Forbearance Programs Ending, Leaving Homeowners In DC, Maryland And Virginia In A Vulnerable State, UHA Is Here To Help

WASHINGTON, Aug. 16, 2021 /PRNewswire/ -- United Homes of America

Extended forbearance programs coming to an end:
As a result of the financial difficulties of the COVID-19 Pandemic, homeowners struggling to make mortgage payments were offered forbearance programs, or special agreement between the lender and the borrower to delay foreclosures.

According to The Mortgage Bankers Association (MBA), there are an estimated 2 million homeowners enrolled in forbearance programs.

Delayed foreclosures until 2022
With the millions of homeowners soon exiting the forbearance programs they were protected by for months, the CFPB wants to make sure to protect consumers by creating a pre-foreclosure review period that would delay foreclosures until 2022.

By the end of this fall homeowners who were once shielded by extended periods of forbearances will have to pick payments back up and keep up with their monthly payments. Some borrowers will be required to repay past due mortgage payments within 6-12 months of the forbearance period ending (six months for federally-backed mortgage loans and 12 for Fannie Mae or Freddie Mac loans) as soon as 2022 begins.

UHA is here to help
United Homes of America is a not-for-profit organization, committed to helping 10,000 homeowners avoid foreclosure. Due to the unprecedented circumstances that the pandemic has brought, UHA is urging homeowners to schedule a free consultation with UHA to get a clearer understanding of all their options.

"I have three kids that depend on me, I've faced foreclosure in the past, and I know the pressure of not knowing where to turn" Tony Rivas is the founder of UHA.

PREVENTION: Don't wait until the end of forbearance.
Know your options for foreclosure avoidance and prepare now. Residents in the DMV area with questions about homeownership or forbearances during the pandemic can schedule a consultation with UHA to find personalized solutions.

SOURCE United Homes of America