Some form of anxiety, stress, desperation, sadness or panic were in every one of their voices.

Financially strapped borrowers have been calling me. Text messages, letters, emails and phone calls are coming from their mortgage servicers. The messages conveyed their COVID-19 mortgage payment forbearance is ending soon.

So, what is your plan, Stan?

If your CARES Act forbearance started with your April 2020 payment, it ends with your March 2021 payment.

Now, Federal Housing Finance Agency Director Mark Calabria, regulator and conservator for Fannie Mae and Freddie Mac, has offered a timely and desperately needed lifeline for struggling mortgage holders. On Tuesday, Feb. 9, he announced Fannie and Freddie were extending COVID-19 related mortgage payment forbearance to 15 months.

It’s a temporary sigh of relief

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