As the nation fights against COVID-19, many homeowners are uncertain as to how they will be making their next mortgage payment. Many lenders are coming forward and providing some relief to property owners. On Saturday, March 21st, 2020, President Trump ordered that foreclosures and evictions will be ceased for a period of 60 days in response to this pandemic. Fannie Mae and Freddie Mac have said that they will offer options for borrowers that may include mortgage payments to be suspended for up to twelve months due to economic hardship from the coronavirus. These two agencies alone support approximately half of all mortgage across the nation. You can access https://www.fhfa.gov/ to find more details about the incentives that they are offering to homeowners.
States and other lenders are also providing a helping hand for owners who are unable to pay their mortgage and other loans. These are being updated daily, but a good resource for you to learn more is on Forbes.com.
Ally Bank, Bank of America, BBVA USA, Capital One, Chase, CitiBank, Discover, Fifth Third Bank, HSBC USA, Huntington, Marcus by Goldman Sachs, PNC Bank, Quicken Loans, Santander, TD Bank, Truist, US Bank, Wells Fargo are just a handful of the many banks that are offering relief to those experiencing a hardship from COVID-19. You can find more information on each bank or lender by going directly to their official website.
The response to coronavirus is being updated on a daily basis. Please check with your state governor or local news resource to stay on top of any new changes. We are in this together and America will come out stronger than before.
In the meantime, if you’re interested in learning more about how the Destin Real Estate is market is fairing, please contact on of our experienced Real Estate agents in our Real Estate Division by calling 850-837-1071.
We welcoming you back to the beach as soon as this health crisis is over.
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