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Homeowners Hit By COVID-19 Get Payment Deferral Option

Homeowners who are in forbearance due to the coronavirus pandemic have gained a new payment deferral option from Fannie Mae and Freddie Mac. So reports Fox Business.

The Federal Housing Finance Agency, which regulates the two government-owned mortgage giants, has announced that homeowners who are able to resume mortgage payments may repay any missed payments at the time the home is sold, refinanced or at maturity.

FHFA Director Mark Calabria said in a press release, “This new forbearance repayment solution responsibly simplifies options for homeowners while providing an additional tool for mortgage servicers.”

Read the full article from Fox Business

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