Provides Important Information about Post-forbearance Repayment Options to Help Impacted Homeowners
WASHINGTON, May 13, 2020 /PRNewswire/ — Fannie Mae (OTCQB: FNMA) today announced COVID-19 payment deferral, a payment deferral option for homeowners who experienced a financial hardship due to COVID-19 that has been resolved and are ready to resume their monthly mortgage payments.
Under this option, homeowners can resume their regular monthly mortgage payment after up to 12 months of missed payments, and the missed payments are deferred, or move, to the end of the loan term. This option is for homeowners who have completed a COVID-19 related forbearance plan and are able to continue making their full monthly contractual payment but cannot afford full reinstatement or a repayment plan to bring their mortgage loan current.
Under a forbearance