FHFA to expand payment deferrals for borrowers facing hardships
Housing Wire
MARCH 29, 2023
Government-sponsored enterprises Fannie Mae and Freddie Mac will allow borrowers facing financial hardships to defer up to six months of mortgage payments, the Federal Housing Finance Agency (FHFA) announced on Wednesday. The option was previously available for borrowers who fell behind on their mortgage payments due to the financial impacts of the Covid-19 pandemic, but the enterprises will start offering it for those experiencing other eligible hardships.
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