Forbearance Enrollment Deadline Extended Through the COVID-19 National Emergency

For most federally backed mortgage loans, the option to get a forbearance will now last until the pandemic ends.

The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Agriculture (USDA) announced that they're extending their mortgage forbearance enrollment deadlines for borrowers with FHA-insured and USDA direct loans until the end of the COVID-19 National Emergency. Previously, the option to get a COVID-19 forbearance was set to expire on September 30, 2021. With this kind of forbearance, borrowers with federally backed mortgage loans, regardless of delinquency status, who're experiencing a financial hardship that's due directly or indirectly to the coronavirus, can get a forbearance of up to 180 days. The forbearance can usually be extended up to 180 more days. In some cases, an even longer forbearance might be possible.

The U.S. Department of Veterans Affairs (VA), which generally follows the same path as HUD and the USDA in these matters, also extended the deadline for borrowers with VA-guaranteed mortgages to request a COVID-19 forbearance through the end of the pandemic. Loans backed by Fannie Mae or Freddie Mac are not currently subject to a deadline for requesting an initial forbearance. Most likely, if you have a Fannie Mae or Freddie Mac loan, you may request an initial COVID-19 forbearance as long as the national emergency is in effect.

To get current information on various mortgage-relief options during the coronavirus crisis, homeowner protections, and important deadlines, go to the Consumer Financial Protection Bureau's website.

Effective date: September 27, 2021