COVID-19: I lost my job or have been furloughed due to the COVID-19 National Emergency and I'm worried that I cannot make my next FHA mortgage payment. - what should I do?

FHA has communicated to mortgage servicers that they must offer you special COVID-19 mortgage payment relief options if you are eligible.
 

If you are able to keep making your mortgage payments during the national emergency, it is in your best interest to do so. If you find you are no longer be able to make your monthly mortgage payments, the first thing you should do is contact your servicer — the company to whom you make your monthly mortgage payments. Your servicer will be able to provide you with what is known as forbearance, a mortgage repayment option that allow you to defer or lower your monthly payments for up to six months, and an additional six month period, if needed. Your mortgage servicer can further explain the details of the FHA COVID-19 National Emergency Forbearance option — what it means now and the options for bringing your mortgage payments current in the future.

Recently the HUD Deputy Secretary Brian Montgomery issued a YouTube video message speaking directly to homeowners with FHA-insured mortgages experiencing financial hardships caused by the COVID-19 emergency. 

 
The video message can be viewed using the following links:


Federal and state governments have announced plans to help struggling homeowners during this time. For more information, visit: https://www.consumerfinance.gov/about-us/blog/guide-coronavirus-mortgage-relief-options/  
 

Additional information is available in the following video: VIDEO: CARES Act Mortgage Forbearance: What You Need to Know  

Benefits.gov is an online resource to help you find federal benefits you may be eligible for in the United States.  Visit https://www.benefits.gov/ for more information and a link to the Benefit Finder, to find information on government benefits you may be eligible to receive.
 


All policy information contained in this knowledge base article is based upon the referenced HUD policy document. Any lending or insuring decisions should adhere to the specific information contained in that underlying policy document.


Topic Number: KA-05416