How To Repay Federal Mortgage Relief Program

How To Repay Federal Mortgage Relief Program

If you are like most people COVID – 19 affected your finances to the point that you took advantage of the Federal Mortgage Relief Program that was offered.

Now the question is when and how do you repay the mortgage forbearance?

As of March 2021, approximately 2.6 million homeowners still remain in an active forbearance.

Even though your 1-year forbearance plan may be ending soon you still may be eligible for an extension for up to an additional 6 months.

However, possible foreclosure still exists if you are still not working. With that said, do you really want an extension?

Keep in mind the repayment plan could end up being very expensive depending on your current financial situation.

There are currently 4 options to repay your federal mortgage if you are coming to the end of your forbearance plan.

Keep reading to not only find out how to repay your federal mortgage relief program but also how to possibly earn an income from home that will help with your options.

Federal Mortgage Relief

A Repayment Plan

A repayment plan will enable you to resume making your normal monthly mortgage payment, plus an additional amount of the missed payments each month until the forbearance amount is paid in full.

Payment Deferral

A payment deferral plan is a good option if you are unable to reinstate your mortgage or you can not afford a repayment plan after you resume your mortgage payments.

A deferral plan will defer any missed payments to the end of the mortgage term with no additional interest.

Keep in mind the deferred payments will be due early if you sell, refinance or pay off your mortgage.

Loan Modification

Another option that could possibly be available to you is a loan modification.

Your mortgage service provider could possibly permanently change your mortgage terms, such as interest rate and or term of the loan.

This can make your payments more manageable depending on your situation.


If you are financially able to pay any missed payments all at once your loan will be reinstated.

A reinstatement is by far the best option if you are able because this will bring your mortgage current with no additional penalties.

Final Thoughts

Keep in mind you are not alone when it comes to having financial problems due to the pandemic of COVID 19.

The key is to seek help and then work diligently to get back on track.

The last thing you want to happen is for your home to be foreclosed. The federal mortgage relief program has been set in place to help out of your current situation.

But, you do not want to stay in this situation long.

Fannie Mae has set up a portal with interactive resources that will help you make an informed decision concerning your mortgage forbearance KnowYourOptions.com.

By discussing the above options with your mortgage lender you should be able to devise a plan that works for you and your lender.

Well, that is all for today I want to thank you for reading and I hope I was able to leave something for you.

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If you have any experience that you would like to share or want to leave a comment or a question.

Leave them below and I will certainly get back in a timely manner.

Check out my other blogs: Integrity Property Acquisitions, and Help Baby Your Baby Fall Asleep

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Keyword federal mortgage relief program.

Chuck Adkins

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