Warning: file_exists(): File name is longer than the maximum allowed path length on this platform (260): C:\zpanel\hostdata\zadmin\public_html\forexbr_com_br/wp-content/cache/supercache/www.forexbr.com.br/2020/03/26/fannie-mae-freddie-mac-to-roll-out-new-mortgage-payment-deferral-option-for-homeowners-facing-financial-trouble/meta-wp-cache-58410dbe9ee8bc153411b763c92b4c61.php in C:\zpanel\hostdata\zadmin\public_html\forexbr_com_br\wp-content\plugins\wp-super-cache\wp-cache-phase2.php on line 71 Fannie Mae, Freddie Mac to roll out new mortgage-payment deferral option for homeowners facing financial trouble – Forex Brasil

Fannie Mae, Freddie Mac to roll out new mortgage-payment deferral option for homeowners facing financial trouble

Homeowners who fall behind on their mortgage payments will soon have the ability to defer payments through a new service being offered by Fannie Mae FNMA, -6.15% and Freddie FMCC, -6.33%.

At the direction of the Federal Housing Finance Agency, the two mortgage companies are rolling out payment deferrals, which will serve as an alternative to forbearance and loan modifications for borrowers who are struggling to remain current on their home loans. Fannie Mae and Freddie Mac accounted for upward of 46% of all mortgages originated as of 2018, according to a report from the Urban Institute.

Borrowers who are granted a payment deferral will see their delinquent principal and interest payments deferred. That balance will come due either on the mortgage maturity date, the pay-off date or upon the sale of the property, whichever comes first. The term of the loan and payment schedule will remain the same.

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