VA Mortgages Offer Payment Relief

VA Mortgages Offer Payment Relief

Veterans see mortgage payment relief for those that are in financial distress due to the Covid-19 Pandemic.

The recent Cares Act allows Veterans that have either a VA Mortgage or a mortgage through FHA or Fannie Mae and Freddie Mac to delay payments for 180 days and then may request for up to another 180 days after that.

The key things to understand is that if you are approved for Forbearance, it will NOT hurt your credit score but its not free either.  The payments that you miss simply get tacked on to the end of the loan.

The VA itself does not issue the forbearance, that can only come from the servicer (the  company that you make your mortgage payments to) so make sure that you call them right away to ask for this financial relief.

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