COVID-19: Will interest on my HECM be waived during the COVID-19 pandemic?

Interest will continue to accrue on all HECM loans. However, any borrower in an extension period relating to the COVID-19 pandemic will not be charged any late fees or penalties during this time.


HQ Policy Determination – COVID-19 guidance


 

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-05461