Skip to main content
Español

Mortgages

Xổ số trực tiếp 3 miềnLearn some of the basics about mortgages.

On This Page

, a pause in making mortgage payments. 

 

Deadlines for Federally Backed Mortgage Foreclosures

  • For loans backed by HUD/FHA, USDA, or VA, you can request an initial forbearance through June 30, 2021.

  • Fannie Mae and Freddie Mac do not currently have a deadline for requesting an initial forbearance.

  • Xổ số trực tiếp 3 miềnLenders cannot foreclose on loans backed by HUD/FHA, USDA, VA, Fannie Mae, or Freddie Mac until after June 30, 2021.

What Your Loan Servicer Must Do If You Request Forbearance

If you're having trouble making payments on your federally backed mortgage because of the COVID-19 pandemic, contact your loan servicer before June 30, 2021. Your loan servicer must:

  • Defer or reduce your payments for 180 days if you contact them to make arrangements

  • Give you another 180 days of mortgage relief at your request

  • Offer options for how you can make up the deferred or reduced payments. They will discuss these options with you at the end of your forbearance period.

Find Your Loan Servicer

If you don't know whether your mortgage is federally backed, . You can also check the and the to see if either one owns or backs your mortgage. Together, Fannie Mae and Freddie Mac own nearly half of all mortgages in the U.S.

is your first place to look for an introduction to mortgage refinancing, including useful worksheets, a glossary of terms used in the industry, and more to help you decide if mortgage refinancing is right for you.
  • What type of mortgage should you choose? Get information about mortgage types and the settlement process in .  
  • Veterans may be eligible for refinancing their VA mortgage using an .

    • Making Home Affordable Program

    • The  offers free counseling and help for homeowners who are having difficulty communicating with mortgage companies or lenders about their needs for mortgage relief. or call 888-995-HOPE (4673).
    • Learn about with tips from the Consumer Protection Financial Bureau (CFPB).

    Mortgage Company Transferring Your Loan to Another Company

    • Federal Reserve rules require mortgage companies to notify homeowners when their loans are transferred to another company. The company that takes over your loan must send you a notice within 30 days of acquiring it. Even with a new loan owner, the company that "services" or handles your loan might not change and you might continue to send your payments to the same address. If that loan servicer changes, you will receive a separate notice.

    • Xổ số trực tiếp 3 miềnFor more information about servicing companies, read the Federal Trade Commission's publication

    .

    Types of Reverse Mortgages

    Xổ số trực tiếp 3 miềnTypes of reverse mortgages include:

    • Federally insured Reverse Mortgages - Known as
    • Proprietary Reverse Mortgages
    • Single Purpose Reverse Mortgages

    Xổ số trực tiếp 3 miềnBe sure to watch for aggressive lending practices, advertisements that refer to the loan as "free money," or those that fail to disclose fees or terms of the loan. To be a savvy consumer and help protect yourself, remember:

    • Do not respond to unsolicited advertisements
    • Be suspicious of anyone claiming that you can own a home with no down payment
    • Seek out your own reverse mortgage counselor
    • Never sign anything you do not fully understand
    • Make sure the loan is federally insured

    Reporting Fraud or Abuse

    If you suspect fraud or abuse, let the counselor, lender, or loan servicer know. You may also file a complaint:

    Xổ số trực tiếp 3 miềnIf you have questions, contact for advice. 

    Xổ số trực tiếp 3 miền . This may be a good mortgage choice if you’re a first-time buyer because the requirements are not as strict as for other loans. The down payment and closing costs are low.

    Am I eligible? 

    • You must qualify for a  loan with an FHA-approved lender. In general, your doesn't need to be high. 
    • The price of the home you want to insure must be within the . 

    How Do I Apply? 

    The FHA doesn't lend money to people. It insures mortgage loans from FHA-approved lenders against default. To apply for an FHA-insured loan, you will need to use an FHA-approved lender.  

    • . 

    • . 

    How do I complain? 

    If you have a complaint about an FHA loan program, . 

    HUD Homes 

    When homeowners default on their FHA loan, HUD takes ownership of the property, because HUD oversees the FHA loan program. These properties are called either HUD homes or HUD real estate owned (REO) property. 

    Am I eligible? 

    Xổ số trực tiếp 3 miềnYour qualifications to buy a HUD home depend on your credit score, ability to get a mortgage, and the amount of your cash down payment. You can also use an FHA-insured mortgage to buy a HUD home.  

    How do I apply? 

    Xổ số trực tiếp 3 miềnUse the  to find listings of HUD real estate owned (REO) properties for sale. Click on the agent tab to find contact information to learn more about the property. 

    Where do I call for extra help?

    Xổ số trực tiếp 3 miềnIf you have a question or need more information about FHA loans or HUD homes, you can:

    • Xổ số trực tiếp 3 miềnCheck their list of

    • the FHA Resource Center

    •  
    Share This Page:

    Do you have a question?

    Xổ số trực tiếp 3 miền Ask a real person any government-related question for free. They'll get you the answer or let you know where to find it.

    Xổ số trực tiếp 3 miềnLast Updated: April 15, 2021

    Top