Special COVID-19 mortgage relief for homeowners with FHA-insured single family mortgages.
If you are struggling to make your mortgage payment on your FHA-insured mortgage because of the impacts of COVID-19, help is available, but you must take action. Here’s what you need to know:
1. FHA’s foreclosure and eviction moratorium is in effect through June 30, 2021. If you are behind on your mortgage payments and occupy your property, the moratorium protects you against foreclosure or eviction proceedings being started against you.
2. Contact your mortgage servicer ā the organization to which you make your mortgage payment ā right away. Your mortgage servicer is required to offer you a mortgage payment forbearance, which allows you to reduce or pause making payments for a period of six months, with the option to extend for an additional six months if needed. You must request a COVID-19 Forbearance from your mortgage servicer by June 30, 2021.
3. Find a HUD-approved Housing Counseling Agency. A housing counselor can explain your options, work with you on your financial situation, and help you obtain assistance from your mortgage servicer. Find a HUD-approved housing counselor
What is Forbearance?A forbearance is a temporary pause or reduction in your mortgage payments to give you time to stabilize your financial situation. If you have a mortgage that is insured by FHA and you are unable to make your mortgage payment because of COVID-19, you’re eligible for FHA’s COVID-19 Forbearance.
If you ā¦
Then you ā¦
Are financially impacted by COVID-19 and are behind or about to fall behind on your mortgage payments and you have not yet requested a forbearance from your servicer.
Can request up to 6 months of forbearance initially, and up to an additional 6 months if you need it. You must request this assistance from your mortgage servicer by June 30, 2021.
Requested a forbearance on or before June 30, 2020, and now need more time.
Are eligible for up to two additional 3-month extensions after 12 months of COVID-19 Forbearance from your mortgage servicer.
Requesting Assistance from Your Mortgage Servicer
SPEAK WITH YOUR MORTGAGE SERVICER
FHA COVID-19 mortgage payment forbearance is for all homeowners with an FHA-insured single family forward mortgage. Homeowners with Home Equity Conversion Mortgages (HECMs) should also contact their mortgage servicer for options that are comparable to forbearance.
Contact your mortgage servicer to request a COVID-19 Forbearance. You can find their contact information on your mortgage statement. You can also go to most mortgage servicer’s websites to apply for forbearance there.
When working with your servicer, you should:
- State that you are having a financial hardship due to COVID-19. You will not be required to provide documentation of this hardship.
- Request a COVID-19 Forbearance for your mortgage payments.
No extra fees, penalties or interest will be added to your account.
You will have to repay any suspended or reduced payments in the future. You will not be required to pay a “lump sum” for the total missed payments at the end of the forbearance period. Your servicer will work with you on options to bring your loan current over time.
Note: It may take a while to get a mortgage servicer on the phone. They may be experiencing high call volumes.
If you need support working with your mortgage servicer or understanding your options, we can connect you with a HUD-approved housing counselor. Find a counselor near you on HUD's Housing Counseling web page.
To find out more, visit the Consumer Financial Protection Bureau's (CFPB's) Coronavirus Resources web page.
Additional resources are also available on the CFPB's website.
Resume Your Mortgage Payments
Once you are able to resume making your mortgage payments, contact your mortgage servicer. Your mortgage servicer will work with you to determine options that you’re eligible for to bring your mortgage current, starting with FHA’s COVID-19 Standalone Partial Claim.
- If you are able to resume making your payments, FHA’s COVID-19 Standalone Partial Claim takes your past due amounts and puts them in a subordinate lien to be repaid later. You will only repay this lien when your mortgage ends, which, for most borrowers, is when you sell your home or refinance your mortgage.
- This lien carries no interest.
- If you are not able to make your payments or if you don't qualify for a COVID-19 Standalone Partial Claim, your servicer will work with you on other COVID-19 loss mitigation options that can help you keep your home, including ones that may make your monthly payments more affordable.