Gloucester Resource Council

Extension on Mortgage Relief Programs and Foreclosure Moratorium

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Last week, The White House announced an extension of mortgage relief programs and the moratorium on home foreclosures through June as thousands of Americans continue to struggle to keep up with payments during the coronavirus pandemic. Recent Federal reports estimate that just over 10 million homeowners are behind on mortgage payments.

If you are a homeowner, it’s important to know your options, rights, and available resources through the CARES Act. Many homeowners have the right to a forbearance (when the lender allows you to temporarily pay your mortgage at a lower payment or pause paying your mortgage) for a coronavirus-related financial hardship.

To see if your mortgage is qualified for a forbearance, contact your lender, a HUD-approved housing counseling agency or visit https://www.covidhelpforhome.org/ to learn more.

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