Homeowners Impacted by COVID-19: Apply for Mortgage Relief

Find out if you qualify for these programs here. 

If you are a homeowner financially affected by the COVID-19 pandemic, you may be eligible to apply for the California Mortgage Relief Program. Use the Federal Homeowner Assistance Fund to help homeowners keep up with home payments.

The program is open to all eligible Californians who are currently experiencing pandemic-related difficulties and are lagging behind in housing payments. Whether you’re facing job loss, reduced income, illness, or other issues that impact your ability to make your monthly mortgage payment, federal agencies are working to ensure you are protected. In fact, the company has directed your loan servicer to provide mortgage relief options that include:

  • Ensuring payment relief by providing forbearance for up to 12 months
  • Waiving assessments of penalties or late fees
  • Halting all foreclosure actions and evictions of borrowers living in forebearance homes owned by the company until at least June 30, 2021
  • Offering loan modification options to provide mortgage payment relief or keep those payments the same after the forbearance period
  • Starting July 1, 2020, offering a payment deferral solution in which your deferred payments will be due at the end of the loan

Find out if you qualify for these programs here. 

Borrowers are eligible for forbearance regardless of whether their property is owner-occupied, a second home or an investment property.

To check the program details and see if you meet your income requirements click here.

What options do you qualify for?

Find out if you qualify for these programs here. 

Your mortgage relief options depend on who owns or backs your mortgage. 

Find out if your mortgage is federally backed.  The majority of mortgage loans in the state are owned by Fannie Mae, Freddie Mac or guaranteed by other federal agencies like the Federal Housing Authority (FHA) or the U.S. Department of Veteran’s Affairs, which are entities sponsored by the federal government. All these entities have options for homeowners impacted by the Coronavirus.

If your mortgage is federally-backed:

The federal CARES Act (Coronavirus Aid, Relief, and Economic Security) offers the following protections for homeowners with federally backed mortgages:

  1. Mortgage Forbearance. Servicers required to provide 180 days of mortgage forbearance (with option to extend for an additional 180 days) to borrowers attesting to COVID-19 financial hardship. Servicer may not charge any fees, interest, or penalties beyond amounts scheduled or calculated as if borrower made payments on time and in full. Applies to federally-backed mortgages (FHA, VA, RHS, Fannie Mae and Freddie Mac). 
  2. Foreclosure Moratorium. A moratorium on foreclosure proceedings, foreclosure-related evictions, and foreclosure sales for federally-backed mortgages was extended until July 31, 2021.
  3. Credit Protection During COVID-19. Requires that furnishers of information to credit reporting agencies who agree to account forbearance or modified payments due to COVID-19, report a consumer’s obligations or accounts as “current” or as the status reported prior to the accommodation during the period of accommodation unless the consumer becomes current. This applies only to accounts for which the consumer has fulfilled requirements pursuant to the forbearance or modified payment agreement. This credit protection is available from January 31, 2020 and ends at the later of 120 days after enactment of the bill or 120 days after the national emergency declaration related to the coronavirus is terminated.

For Fannie Mae or Freddie Mac Mortgages:

In addition to the foreclosure moratorium and forbearance, if you are granted forbearance to delay making your monthly payments during this temporary period:

  • You won’t incur late fees
  • You won’t have delinquencies reported to credit reporting companies
  • Foreclosure and other legal proceedings will be suspended
  • Consumers have the option to place the payments on the back end of the mortgage

For FHA mortgages:

In addition to special COVID-19 forbearance, FHA has implemented the COVID-19 National Emergency Partial Claim, an option to be used by servicers when the COVID-19 forbearance period ends. This partial claim will help eligible homeowners who have been granted special COVID-19 National Emergency forbearance to reinstate their loans by authorizing servicers to advance funds on behalf of homeowners. The partial claim will defer the repayment of those advances through an interest-free subordinate mortgage that the borrower does not have to pay off until their first mortgage is paid off.

The Federal Housing Administration (FHA) announced that starting on July 1, 2020, Fannie Mae and Freddie Mac are now offering a new repayment solution for homeowners who are in forbearance due to the COVID-19 pandemic.  The payment deferral option allows borrowers the ability to repay their missed payments at the time the home is sold, refinanced, or at the end of the loan.  In addition to this payment deferral option, borrowers with COVID-19 related hardships can still utilize other options that include reinstatement, repayment plan, or loan modifications based on their individual situations.  Homeowners with federal loans are not required to pay back missed payments in one lump sum.

Find out if you qualify for these programs here. 

Help for renters

Renters living in a property financed by Fannie Mae or Freddie Mac (use the “loan lookup” tools for Fannie Mae here or Freddie Mac here to find out) are covered by a temporary eviction moratorium. Renters are still expected to pay their rent during the eviction moratorium period if they can. Those experiencing financial hardship should reach out to their landlord to discuss their situation and potential solutions. 

You also have access to their respective Disaster Response Networks. These networks offer support from HUD-approved housing counselors, such as a personalized recovery assessment and action plan, financial coaching and budgeting, and ongoing check-ins. Contact your property manager to see if you are eligible. Fannie Mae’s renter hotline number is 1-877-542-9723 and Freddie Mac’s renter hotline number is 1-800-404-3097.

Learn More
See Frequently Asked Questions about Enterprise assistance options for homeowners and renters impacted by COVID-19 or Information for Tenants in Rental Properties With a Fannie Mae or Freddie Mac Mortgage.

Find out if you qualify for these programs here. 

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