VA issued Circular 26-2021-04 amending forbearance provisions related to COVID-19. Per the Circular, VA extended the COVID-19 Forbearance start date to June 30, 2021. A servicer is expected to approve a borrower’s initial COVID-19 forbearance if the borrower’s request for forbearance is made on or before June 30, 2021. VA also provided 2 additional 3-month COVID-19 forbearance periods for borrowers that requested an initial COVID-19 forbearance prior to June 30, 2020. Each extension must be requested individually and must be approved. Neither of the 2 additional 3-month forbearance periods may extend beyond December 31, 2021. The Circular is effective immediately.
CLick to view the VA Circular 26-2021-04: https://www.tenaco.com/wp-content/uploads/2021/03/VA-Circular-26-21-04.pdf
