In a recent article, the Federal Housing Finance Agency (FHFA) has confirmed that borrowers in forbearance with a Fannie Mae or Freddie Mac (the Enterprises)-backed mortgage are not required to repay the missed payments in one lump sum.

This indeed is valuable news for homeowners, and they should no longer be worried about losing their home during this national health emergency. To help homeowners navigate the forbearance process, FHFA partnered with CFPB on the Borrower Protection Program to provide homeowners accurate information about forbearance and address concerns noted in some consumer complaints. Continue reading...