Under the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act, a homeowner with a federally backed mortgage loan, regardless of delinquency status, who's experiencing a financial hardship due directly or indirectly to COVID-19, can get a forbearance of up to a year. But a forbearance isn't the same as loan forgiveness. So, you'll still owe the amounts you skipped paying after a forbearance period ends.
Under the new COVID-19 payment deferral program, which goes into effect July 1, 2020, borrowers who complete a coronavirus-related forbearance plan don’t have to repay the missed payments until they sell their house, refinance their current mortgage, or their loan matures. (To learn more about this program, read Mortgage Payment Deferral for Freddie Mac and Fannie Mae Mortgages.)
Effective date: July 1, 2020