Covid-19 has impacted the world and nation in ways that we could not have imagined. We understand the hardships faced as you are struggling to pay your mortgage. The FHA foreclosure moratorium that began in March last year comes to an end on June 30, 2021. While the economy enters recovery phase, many families are currently having trouble recovering from personal and financial challenges.
We encourage affected borrowers to contact a HUD-approved Housing Counseling Agency for assistance. Under the Cares Act of 2021, a mortgage payment forbearance option provides aid to homeowners who either directly or indirectly were financially impacted due to Covid-19. The Act provides homeowners with an initial forbearance of their monthly mortgage payment for up to 180 days; and they may qualify for an additional 180 days depending upon their specific situation. At the end of the forbearance period, FHA has a permanent partial claim/loss mitigation option to assist with repayment. To contact a HUD-approved Housing Counseling Agency at https://apps.hud.gov/offices/hsg/sfh/hcc/hcs.cfm or call the interactive voice response system at (800) 569-4287.
There are other resources that may offer help. The American Rescue Plan Act of 2021 provided a Homeowner Assistance Fund. This funding is distributed to state and local governments to help homeowners remain in their homes. In addition to contacting a HUD-approved Housing Counseling Agency, borrowers may contact their lender directly to inquire about a forbearance, as well as the Florida Housing Finance Corporation at (850) 488-4197 and their local government.
Having a place to call home is one of the most important things we can do to recover from the ills of Covid-19. For additional information go to https://www.hudexchange.info/programs/covid-19/ or dial 1 (800) CALL FHA.