Thread by @JByrd_DC

#THREAD Re: The Announcement for #COVID-19 Relief for Homeowners and Renters – What Does it Mean? What are the programs? Do they apply to you? What do you need to do now?
thehill.com/homenews/admin…
(1/8)

The moratorium on foreclosures/evictions is important if you have a single-family mortgage and are facing foreclosure or eviction in the next 60 days.

*It is not a moratorium on current payments due.*

FHA: hud.gov/sites/dfiles/O…

FNM/FRE: fhfa.gov/Media/PublicAf… (2/8)

If you lost your job or got sick and expect to have difficulty paying your mortgage going forward, the relief programs you will want to look at are those that can reduce or suspend your payments and protect your credit. See the next tweet for options. (3/8)

Get information on disaster relief mortgage programs here:

Fannie Mae: fanniemae.com/portal/media/c…

Freddie Mac: freddiemac.gcs-web.com/news-releases/…

FHA: Call [phone]
(4/8)

To take advantage of these hardship programs contact your mortgage servicer ASAP. Look at your monthly bill for contact information and give them a call.

*Don’t sit on your hands.*

(5/8)

For most renters, the moratorium on evictions does not apply. Orgs like @NLIHC are actively advocating for renters in this crisis. Look to what your city, county, or state is doing about evictions:

citylab.com/equity/2020/03…
(6/8)

For renters assisted with public housing dollars or in FHA insured properties, the scope of the HUD moratorium protection is unclear. (7/8)

All mortgage lenders and servicers with home mortgages not covered by the federal programs are encouraged to implement hardship programs for their borrowers adversely affected by #COVID-19 (8/8)