American flag and mask with sign cares act. Coronavirus Aid, Relief, and Economic Security law concept.

Agencies combine efforts to help homeowners during pandemic

The 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.

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.

Written by
Cara Clark
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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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