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DeDe Forwood - REALTOR® e-PRO®

HomeSmart 5225 N Central Ave #104 Phoenix, AZ 85012

480-818-9391

DeDe@dedeforwood.com

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Mortgage Relief Options Available During Coronavirus Pandemic

Mortgage Relief Options Available During Coronavirus Pandemic

The coronavirus pandemic is causing uncertainty across the nation—and for many, that includes financial uncertainty.

Luckily, there are mortgage relief options for homeowners impacted by the coronavirus. In a recent statement, Mark Calabria, Director of the Federal Housing Finance Agency (which regulates Fannie Mae, Freddie Mac, and the 11 Federal Home Loan Banks) called attention to options homeowners may have if they struggle to pay their mortgage during this time of crisis.

“To meet the needs of borrowers who may be impacted by the coronavirus, last week Fannie Mae and Freddie Mac (‘The Enterprises’) reminded mortgage servicers that hardship forbearance is an option for borrowers who are unable to make their monthly mortgage payment,” Calabria said in the statement. “For borrowers that may be experiencing a hardship, I encourage you to reach out to your servicer.”

The Federal Housing Administration also chimed in to remind homeowners of their options in a written statement last week: “The Federal Housing Administration (FHA) is reminding mortgagees of FHA’s loss mitigation program options, particularly in light of the recent reports on the Coronavirus (COVID-19). As with any other event that negatively impacts a borrower’s ability to pay their monthly mortgage payment, FHA’s suite of loss mitigation options provides solutions that mortgagees should offer to distressed borrowers – including those that could be impacted by the Coronavirus – to help prevent them from going into foreclosure. These home retention options are located in FHA’s Single Family Housing Policy Handbook 4000.1 Section III.A.2.”

The Takeaway:

What does this mean for you? If your finances are being impacted by the coronavirus and you’re worried you won’t be able to make your mortgage payments, get in touch with your lender. There are supports in place to help guide you through this difficult time.  Contact me and I can help you go over your mortgage relief options!

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DeDe Forwood

My name is DeDe Forwood, I am a Phoenix Real Estate Agent with HomeSmart. I traveled for 20 years in the entertainment industry as a Project Manager/ video engineer in major event operations.. After being on the road for so long, becoming a Phoenix Realtor® seemed like the perfect fit for my experience, attention to detail, love of helping people, and my passion for Phoenix! My background in project management and event operations is actually an amazing fit with Phoenix real estate. I'm someone who is both organized AND passionate about all things buying and selling homes in Phoenix.  My area of expertise is the Phoenix historic neighborhood districts, midtown, downtown and the central corridor. LISTING WITH ME, you get the passion of someone who is all about the digital age in real estate. With the tech-savvy experience of a digital marketer,  I offer my clients the cutting edge of technology that changes constantly, attention to detail, professionalism, fairness, honesty, integrity, and enthusiasm. BUYING WITH ME as your buyer's agent, you get every digital advantage to find listings quickly, the energy to go see them quickly. I've got the passion that only a customer service nerd can have, a love of all things real estate in Phoenix, the project management, and engineer's brain, and the tech-savvy-ness of a digital marketer.  Let's get you HOME!!

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