Multiple federal agencies worked together to create a website designed to assist Americans who are facing problems making mortgage or rent payments as a result of the COVID-19 pandemic.
The Mortgage and Housing Assistance website has information from the Consumer Financial Protection Bureau, the Department of Housing and Urban Development, the Federal Housing Finance Agency and the Department of Veterans Affairs. All are working to protect citizens who may be facing housing insecurity as a result of reduced income or other issues tied to the current national emergency.
Experts say that the long-term financial well-being of a majority of Americans is at risk as a result of the COVID-19 crisis, and that risk will remain even after the nation reopens.
Since there are many different assistance programs available from both federal and state agencies, finding out just what your options are can be daunting and time consuming. The joint website was created with this in mind. Some of the services and information offered on the website include:
- Help with learning about mortgage relief options
- Instructions on how to request forbearance or mortgage relief
- Guidance on what to do if you've received a mortgage relief option
- Special protections for renters
- Special programs and protections for veterans and military members
- How to avoid scams and bad actors
Along with providing information about how to avoid foreclosure or eviction, the website also provides links to several sources of assistance and instructions on how to contact them in your local area. This includes federally approved housing counselors, reputable credit counseling organizations and free legal resources.
The VA also has detailed information designed to help borrowers with VA Guaranteed Home Loans who may be facing financial hardships.
The new website will help those experiencing financial or housing insecurity be aware of, and receive, all the new benefits for which they are eligible.
Get the Latest Financial Tips
Whether you're trying to balance your budget, build up your credit, select a good life insurance program or are gearing up for a home purchase, Military.com has you covered. Subscribe to Military.com and get the latest military benefit updates and tips delivered straight to your inbox.