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Participating lenders are required to offer you COVID-19 mortgage payment relief options but your lender must determine that you are eligible. Call your lender or loan servicer to discuss the possibility of being approved for a coronavirus repayment option.

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FHA.com is a privately owned website, is not a government agency, and does not make loans.

COVID-19 Update: Foreclosure Prevention Q&A

May 11, 2020

COVID-19 Update: Foreclosure Prevention Q&A
Q: I have an FHA mortgage and I am worried about my ability to make mortgage payments during the economic shutdown over the coronavirus. What should I do?

A: The FHA official site advises FHA borrowers to do three things if you are able:
 
  • Continue to make your monthly mortgage payments if you are able to do so;
  • If you are unable to make your mortgage payment, contact your mortgage servicer and discuss your situation with a loss mitigation specialist. 
  • Contact a HUD-approved housing counseling agency (you can get a referral by calling 1-800 CALL FHA).
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Q: I have lost my job, or I have been furloughed or have experienced a loss of income as a result of COVID-19. What should I do?

A: Participating lenders are required to offer you COVID-19 mortgage payment relief options but your lender must determine that you are eligible. Call your lender or loan servicer to discuss the possibility of being approved for the coronavirus mortgage repayment option that allows you to defer or lower your monthly payments for up to six months, with an additional six month option if required.

Ask your lender about the FHA COVID-19 National Emergency Forbearance option. It is NOT automatic and you must call to be considered.

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Q: I want to claim mortgage relief under the measures provided during the COVID-19 National Emergency. Do I need to provide my servicer with documentation to prove I need help?

A: Participating FHA lenders will need you to confirm a financial hardship due to the COVID-19 National Emergency but according to the FHA official site, the lender “will not require that you supply any documents.

Your mortgage servicer can further explain the COVID-19 Forbearance and can help you figure out other options for repaying any suspended mortgage payments or the balance of reduced mortgage payments.

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Q: I am having my FHA mortgage payments reduced or suspended under a COVID-19 Forbearance. Do those suspended payments need to be repaid at some point?

A: Yes. You will work the details of the repayment out with your loan servicer.

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Q: If I can make my regular mortgage payments again in less than six months, should I?

A: FHA rules for the COVID-19 Forbearance state that you are not obligated to use the entire six months of forbearance. You can start making regular FHA home loan payments again right away if you are able.

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