Deferred mortgage payments

Mortgage financiers Fannie Mae and Freddie Mac in March unveiled a new payment deferral program that allows borrowers facing hardship to defer two months of their mortgage payments. The deferred payments would not be due until the end of the mortgage, according to housingwire.com.

The hardship does not have to be related to the coronavirus crisis.

The program is aimed at people who are experiencing short-term hardship and have the ability to restart their payments in full without modifying their loans.

The borrower becomes current and no additional interest is charged.

If the virus crisis has affected you, talk to your lender.