Owners may be able to skip a mortgage payment, but what if you rent

Owners may be able to skip a mortgage payment, but what if you rent?

Owners may be able to skip a mortgage payment, but what if you rent

For New York’s homeowners who have found their income slashed by the coronavirus shutdown, the state and federal governments are coming up with assistance programs. However, the mortgage relief being offered to homeowners has many renters asking whether they will get the same support.

Borrowers nationwide are being told mortgage payments backed by Fannie Mae and Freddie Mac can be suspended for up to 12 months if you’ve lost income as a result of the pandemic. That doesn’t mean you can just stop paying—the message from Mark Calabria, director of the Federal Housing Finance Agency, is to reach out to your mortgage company as soon as possible and explain your situation. The paperwork can follow later.

Read Full Article on Brick Underground: https://www.brickunderground.com/buy/can-you-skip-a-mortgage-payment-if-youre-not-getting-paid-during-the-coronavirus-outbreak

FEATURED INSIGHTS

RELATED INSIGHTS

Featured Buildings

226 Third Avenue

1125 Lexington Avenue

129 East 10th Street

1307 Madison Ave

141 E 61st Street

151 East 19th Street

Follow us

Copyright © 2021 Lee & Associates Residential NYC. All Rights Reserved. | See our Privacy Policy and Terms Of Use for details.