More than 325,000 homeowners with FHA-insured single-family mortgages that are at least two payments behind (60+ days delinquent) on their mortgage payments have not requested a forbearance and are at risk of losing their homes.
The COVID-19 forbearance – a reduction or pause in their mortgage payment – must be requested by the borrower.
Communities of color are disproportionately affected by the pandemic and are also likely to be a large share of homeowners who are behind on their FHA-insured mortgage payments.
HUD’s goal is to have as many struggling homeowners as possible request a mortgage payment forbearance from their servicer, but time is of the essence.
Message for the Borrowers:
If you are struggling to make your mortgage payment on your FHA-insured mortgage because of COVID-19, help is available.
However, you must act now. Here are the steps you should take today:
Contact your mortgage servicer and request a COVID-9 forbearance. A forbearance is a reduction or pause in your mortgage payment.
Your mortgage servicer is the entity to which you make your mortgage payments. Your mortgage servicer is the only entity that can provide you with a mortgage payment forbearance.
When working with your servicer, you should:
1) State that you are having a financial hardship due to COVID-19.
2) Request a COVID-19 Forbearance for your mortgage payments.
3) Ask your servicer to confirm the details of your agreement in writing.
For help talking to your mortgage servicer or understanding your options, call (800) 569-4287 to contact a HUD-approved housing counseling agency in your area.
HUD urges all homeowners who are able to make their mortgage payments to continue to do so. But if you can’t make your mortgage payments, know that you are not alone, and that help is available.