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HUD Launches Mortgage Relief Plan to Help With COVID-19

The U.S. Department of Housing and Urban Development has imposed a moratorium of up to a year on struggling borrowers’ payments for government-insured mortgage loans. So reports Politico.

The announcement to mortgage servicers came only a couple of weeks after HUD called for up to a two-month delay on foreclosures and evictions.

The Federal Housing Administration, the HUD agency that backs mortgages for low- and moderate-income borrowers, also told lenders to push back reverse mortgage due dates by six months.

Read the full article from Politico

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