FHA issued Mortgagee Letter 2021-24 to provide an additional forbearance period and HECM extension due to COVID-19. Per the Mortgagee Letter, FHA:
- Provided an additional 6-month COVID-19 forbearance period for borrowers that request the initial forbearance between July 1, 2021 and September 30, 2021;
- Provided an additional 6-month COVID-19 HECM extension for borrowers that request the initial extension between July 1, 2021, and September 30, 2021;
- Established a 6-month COVID-19 forbearance period or HECM extension for borrowers that request the initial forbearance or extension between October 1, 2021 and the end of the COVID-19 national emergency; and
- Provided an additional 6-month COVID-19 forbearance period or HECM extension if the initial forbearance or HECM extension is exhausted or expires prior to the end of the COVID-19 national emergency.
The Mortgage Letter is effective immediately.
Click to view the FHA Mortgagee Letter 2021-24: https://www.tenaco.com/wp-content/uploads/2021/09/FHA-Mortgagee-Letter-2021-24-09-27-21.pdf
