White House announces additional relief for mortgage borrowers impacted by COVID-19
The White House announced Friday it will offer additional aid for mortgage borrowers who have been negatively impacted by the coronavirus pandemic; borrowers with government-backed mortgages are eligible for the enhanced assistance.
The Department of Housing and Urban Development (HUD), the USDA, and the Veterans' Affairs Department will aim to provide borrowers with a 25 percent reduction in monthly principal and interest payments so that they can strive to make payments and mitigate any possible foreclosure.
This option is in alignment with aid offered by the Federal Housing Finance Agency (FHFA) for mortgages backed by the government-sponsored enterprises, Fannie Mae and Freddie Mac.
For a breakdown of the aid offered, view the White House's Fact Sheet.
Add to Calendar 2023-11-28 09:00:00 2023-11-28 09:00:00 Growing Creatively & Innovatively in 2024 Listen On: Key Takeaways: [0:58] What can credit unions do to best prepare themselves for 2024? [2:12] Although he sees a glimmer of hope, Jack points out that the liquidity crisis and slow prepayment speeds hamper rapid recovery. [5:22] We discuss how credit unions seek low loan growth through member-centric strategies such as second mortgages and home improvement lending. [7:34] Credit unions are leveraging advancing technology for member-focused engagement. [9:31] How will technology continue to evolve and affect credit unions? [11:43] What role does AI play in innovative growth? [14:14] Credit unions adopt technology for efficiency, enabling staff to focus on personalized member interactions, especially with younger generations. [17:14] Closing thoughts, emphasizing competition against banks and fintech for younger generations. Web NAFCU email@example.com America/New_York public
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