New deferral option for those who can’t make mortgage payments

 

Source: Andrew Khouri, L.A.Times

Many struggling homeowners who are delaying their mortgage payments through so-called forbearance programs will get a new repayment option, allowing them to make missed payments when the home is sold or the loan term is over, the Federal Housing Finance Agency.

The deferral option applies to homeowners who have a mortgage backed by the two government-controlled mortgage companies that the FHFA oversees: Fannie Mae and Freddie Mac.

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