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Fannie Mae, Freddie Mac: Borrowers in forbearance can defer all missed payments until the end of their loan
May 13, 2020, 5:52 pm By Ben Lane With nearly 4 million borrowers in forbearance on their mortgage, we still don’t have a complete picture of what happens when forbearance periods end. Borrowers got some clarity on the situation last month, when Fannie Mae and Freddie Mac said that borrowers are not required to repay…
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Skipping mortgage payments? Don’t get ripped off.
By Ron Hurtibise South Florida Sun SentinelMay 04, 2020 11:39 AM Because of widespread uncertainty and lack of clear guidance about mortgage relief options, home loan borrowers will need to be on guard against scams and profiteering if they decide to skip payments because of COVID-19-related financial hardship. Misinformation is rampant, and even mortgage industry…
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No lump sum payment for homeowners Federal agency confronts ‘ongoing misinformation’ regarding loans
By Ron Hurtibise- Sun Sentinel Feds make clear: No lump sum payment required for Fannie and Freddie home loan borrowers after coronavirus pause. The federal agency that oversees 28 million government-backed home loans is reassuring its borrowers that they won’t be required to make a lump sum payment if they opt to hit pause on…
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Regulators roll out streamlined mortgage modification program
Source: Los Angeles Times In a push to simplify mortgage modifications, federal regulators announced a streamlined process that doesn’t require borrowers to prove a hardship. Read more…