The Consumer Financial Protection Bureau (CFPB) has outlined financial relief options for mortgage borrowers who may be facing hardship as a result of the Coronavirus pandemic.
The CFPB advises that borrowers who are able to make their mortgage payments should continue to do so. For borrowers unable able to make regular mortgage payments, the CFPB recommends they contact their service provider directly to discuss payment options, as some mortgage loans may not be federally-supported.
The CFPB notes that several protections are available to borrowers under the Coronavirus Aid, Relief and Economic Security (CARES) Act as well as other recent regulatory actions, with resources to help borrowers determine which type of relief they may qualify for. For details, please visit the Consumer Financial Protection Bureau website.
