Freddie Mac Extends Mortgage Break for Unemployed
Mortgage finance firm Freddie Mac will give unemployed borrowers a break on their mortgage for up to one year.
“These expanded forbearance periods will provide families facing prolonged periods of unemployment with a greater measure of security by giving them more time to find new employment and resolve their delinquencies,” said Tracy Mooney, senior vice president of single-family servicing and REO at Freddie Mac.
“We believe this will put more families back on track to successful long-term homeownership,” Mooney adds.
Are you a struggling homeowner? Check out our Avoiding Foreclosure section for resources and tips.