Homeowners who are struggling to pay their mortgages because of the coronavirus pandemic have some options.
But knowing those options can be confusing, according to Fannie Mae, a federally-backed mortgage finance company.
It said some homeowners aren’t aware of their options while others don’t fully understand their choices.
“Myths and misinformation still exist and need to be addressed,” Fannie Mae said.
It offered clarity about five myths that are confusing some homeowners.
Myth No. 1: If a homeowner experiences financial hardship due to COVID-19 and can’t pay their mortgage, they should wait until they miss a payment to contact their servicer.
That’s absolutely wrong.
Any time someone faces a financial hardship, whether it’s affecting their ability to pay a mortgage, a credit card or any
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