CRL Praises FHFA for New Housing Policy to Help Homeowners Facing Financial Hardship Stay in their Homes
CRL also urges mortgages servicers to move swiftly in implementing the policy WASHINGTON, D.C. – Financially struggling homeowners who have mortgages backed by Fannie Mae and Freddie Mac (the Enterprises) will receive help staying in their homes and affording their mortgages in the coming months. The Federal Housing Finance Agency (FHFA) announced yesterday that the Enterprises, which FHFA regulates, will strengthen their payment deferral policies by allowing borrowers facing financial hardship to defer up to six months of mortgage payments and repay the past-due amounts at the end of their