Fannie Mae, Freddie Mac will let borrowers facing hardship defer two months of mortgage payments

A recent report from Goldman Sachs suggested that a record-shattering number of people are filing for unemployment as the coronavirus cripples the nation’s economy. That’s why there’s likely going to be a giant surge in delinquent mortgages as many borrowers are unable to make their next mortgage payment.

Fannie Mae and Freddie Mac unveiled today a new “payment deferral” option that will allow borrowers facing a hardship to defer two months of their mortgage payments until the end of their mortgage.

Read the full HW article here.