The consumer and housing federal agencies unveiled a single-website source for Covid-19 related housing information. It consolidates separate benefits offered under the CARES Act, and provides homeowners and renters tools to assist them find programs that will work for them.
CFPB, FHFA & HUD Roll-out COVID-19 Housing Website
Homeowners and renters are now able to visit a single federal website to find federal programs that can assist with COVID-19 related housing problems. The one-stop website is a joint project of three federal agencies, the Consumer Financial Protection Bureau (CFPB), Federal Housing Finance Agency (FHFA) and the Department of Housing and Urban Development (HUD).
The new website is located online at cfpb.gov/housing. It offers info for homeowners that have a mortgage backed by FHA, VA, USDA, Fannie Mae or Freddie Mac.
“The need is greatest for those who have experienced job loss or loss of income due to the pandemic,” CFPB Director Kathy Kraninger told Realtors on Tuesday during the National Association of Realtors® (NAR) 2020 Virtual Legislative Meetings. “Struggling borrowers can request up to 180-days forbearance and if they still need assistance, they may request another 180 days. Additionally, if consumers do not have a federally backed mortgage, many loan servicers have forbearance or deferment options for non-government backed or private loans.”
The new website consolidates information about CARES Act mortgage relief, protections for renters, helpful information on additional help and information on the way to avoid COVID-19 related scams. It offers lookup tools for homeowners to find out if their mortgage is federally backed, as well as for renters to determine if their rental unit is financed by FHA, Fannie Mae or Freddie Mac.
“No one should lose their home because of coronavirus, and this new website is full of resources to help property owners and renters navigate these unprecedented times,” says HUD Secretary Ben Carson. “HUD is continuing to monitor the needs of our FHA borrowers and HUD-assisted families, and we are prepared to take additional actions as needed.”
In addition to the new website, CFPB says it’s partnered with FHFA on the Borrowers Protection Program that enables the agencies to share servicing information to protect borrowers throughout the pandemic.
The CFPB offers consumer information on a variety of COVID-19-related topics including:
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