adminThe Consumer Financial Protection Bureau (CFPB), Federal Housing Finance Agency (FHFA) , and U.S. Department of Housing and Urban Development (HUD) are working together to help homeowners and renters during the COVID-19 pandemic.
If credit union members are having trouble making mortgage payments due to the coronavirus, forbearance may be an option.
A new federal law, the Coronavirus Aid, Relief and Economic Security (CARES) Act, puts in place protections for homeowners with mortgages that are federally or Government Sponsored Enterprise (GSE) backed or funded (by FHA, VA, USDA, Fannie Mae, or Freddie Mac).
Learn about mortgage relief options
Which options consumers may qualify for
Homeowners are entitled to mortgage forbearance if they have a federally or GSE-backed mortgage and you are experiencing financial hardship due, directly or indirectly, to the coronavirus national emergency. They can request forbearance or mortgage relief.
