Freddie Mac and Fannie Mae to provide deferral options

Freddie Mac and Fannie Mae will give homeowners who are having difficulty with mortgage payments to defer payments for up to a year through forbearance. Homeowners will be required to make up any missed payments but they won’t be charged any interest and the payments will be added to the end of their term.

Already nearly 4 million homeowners have taken advantage of the offer.

Both Freddie Mac and Fannie Mae send that loan modifications might also be possible.

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