Borrowers Can Now be in COVID Forbearance for Up to 15 Months

The Federal Housing Finance Agency (FHFA) announced last week it would allow borrowers with Fannie Mae and Freddie Mac-backed loans to request an additional three months of forbearance. Originally, borrowers with federally backed mortgages could request up to 12 months of forbearance if experiencing financial hardship due to the COVID-19 pandemic.

But FHFA is now allowing those still struggling to make their mortgage payments to prolong their current forbearance. Read more.