Government assistance is still available for those struggling to pay rent or make mortgage payments due to the COVID-19 pandemic.
In Tennessee, roughly 6,700 households are 90 days or more delinquent on mortgage payments, putting them at risk of foreclosure, according to the U.S. Department of Housing and Urban Development. In Hamilton County, there are 447, according to a spokesperson for the county mayor’s office.
To help those burdened by the financial impact of COVID-19, HUD is extending its forbearance program for mortgages insured through the Federal Housing Administration through the end of July.
The Federal Housing Finance Agency announced in June that a foreclosure moratorium for mortgages backed by Fannie Mae and Freddie Mac would be extended until July 31, 2021.
HUD, Veterans Affairs and the U.S. Department of Agriculture will continue to allow homeowners who have not taken advantage of forbearance to date to enter into COVID-related forbearance through September 30, 2021, while homeowners with Fannie Mae or Freddie Mac-backed mortgages who have COVID-related hardships will continue to be eligible for COVID-related forbearance.