Florida FHA Loan News

Government Shutdown Mortgage Forbearance Available

One option for government employees without an income during the shutdown is forbearance. This is a. government shutdown mortgage Forbearance Available The government shutdown, which began on December 22, 2018 and is now the longest in history, has left 800,000 federal workers without pay . While there’s no end to the shutdown in sight, there is help available for federal workers who are struggling to pay their mortgages because of it.

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The Government Shutdown and How it Impacts Home Loan Mortgages Mortgage servicers offer forbearance to bridge the gap. "LoanCare is working with customers who have been impacted by the federal government shutdown, which may include normal forbearance or other relief," Tim O’Bryant, senior vice president of customer experience at LoanCare, said in a statement to National Mortgage News.

Government Insured Loan Programs If you have a government insured loan at risk of not closing due to the government shutdown, consider switching the loan to private mortgage insurance with Genworth. In many cases, the total borrower payment will be the same or better than the borrower would have received on a government loan.

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Navy Federal Credit Union is offering a zero-percent APR loan up to $6,000 during the government shutdown. The assistance is open to federal government employees and active duty members of the.

Q: What mortgage-assistance options are available to me, since I have been impacted by the Government Shutdown? A: If you have suffered a financial impact due to the government shut down, you are eligible for a forbearance plan for a minimum of 3 months in order to recover from this difficult time. Please contact our assistance line at 866-430-9685.

FHA Mortgage Loans Are Still Available During The Government Shutdown. Forward mortgages will continue to be serviced during the shutdown as previously reported here and elsewhere. But there are some important things you should know. Reverse mortgages are completely unavailable during the shutdown.

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