📢 Homeowners Are Now Eligible for Up to 18 Months of Forbearance ☘ Hoey Team ☘ exp Realty 🌴 Southwest Florida 🌴

Dated: February 26 2021

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February 26, 2021  Homeowners struggling financially during the COVID-19 pandemic have received another extension for their mortgage payments.
Realtor Magazine 2021 02 26 Homeowners eligible to up to 18 months of forberance since the begining of the plandemic after going through the COVID-19 Coronavirus pandemic Hoey Team exp Realty
The Federal Housing Finance Agency announced Thursday it is providing an additional three months of forbearance to borrowers with loans backed by Fannie Mae and Freddie Mac, bringing forbearance up to 18 months total.

To qualify, borrowers must be enrolled in a COVID-19 forbearance plan as of Feb. 28.

The FHFA also announced a moratorium on foreclosures and real estate evictions for single-family mortgages backed by Fannie Mae and Freddie Mac through June 30. The moratorium had been set to expire March 31.

“Borrowers and the housing finance market alike can benefit during the pandemic from the consistent treatment of mortgages regardless of who owns or backs them,” says FHFA Director Mark Calabria. “From the start of the pandemic, FHFA has worked to keep families safe and in their home, while ensuring the mortgage market functions as efficiently as possible. [The] extensions of the COVID-19 forbearance period to 18 months and foreclosure and eviction moratoriums through the end of June will help align mortgage policies across the federal government.”

The extensions are similar to those announced last week by the Biden administration for loans backed by the Department of Housing and Urban Development, the Department of Veterans Affairs, and the Department of Agriculture. The announcement comes about three weeks after the FHFA had extended its total forbearance period to 15 months

Here in Southwest Florida 🌴 especially as people continue to move / relocate to the area from other parts of the US, inventory remains low overall, but we do continue to list new properties to the market and sell many homes; both Single family, and Condo type.  We have also seen an uptake in people planning ahead, and buying that second home now, rather than waitiang as they were planning to do.  Low interest rates are probably helping with this additionally.  Low inventory is the greatest chalenge for buyers.  For those relocating to Florida, we are pleased to be able to assist homeowners in other parts of the United States who need to sell to buy here; please reach out today for more information and how you can have a smooth, non-stressful transition / relocation.

At our Real Estate Team; Hoey Team ☘ we have been succesfully working 100% virtually / remotely for the past number of years as we continue to grow; i'm glad we already had systems in place to better help sellers and buyer with goal posts continually moving in our industry.

Article content from our NAR (National Association of REALTORS) Newsletter Magazine, and from other sources including Freddie Mac, FHFA and Hoey Team ☘ exp Realty

For those Living in or Visiting Southwest Florida wanting additional resources, or a list of places to see / visit:   www.VisitCollier.Com      Feel free to share this resource page with others  🌴

NOTE for Buyers and Sellers: On our Hoey Team â˜˜ VIRTUAL OPEN HOUSE Page you may WATCH ? Detailed HD 3D Immersive VIDEO ? Walkthrough Tours for all our COMING to MLS & AVAILABLE LISTINGS right HERE: ? www.SWFLVRE.com  ? 

For more Real Estate related information, or if you have questions on any aspect of Buying, Selling, Upsizing, Downsizing, Moving within or Relocating to or from Florida (the number 1 state for people to move to), or on any aspect of the Real Estate Market, Locally, Nationally or Internationally, please let us know, we can help, we can address / answer your questions, and we are always available to help you or someone you know.

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CLICK HERE to Visit our High Definition Virtual 3D Open House Tours Page 24/7

Click Here for our most recent Market update Report for Southwest Florida and beyond.

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Here is our informational Southwest Florida Website ☘

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Also; please check out the other blogs, and tabs to many other Links, Updates, Reports & Stats that we have here on our informational website.  â˜˜

We hope that you find the information useful.  If you have any questions, please do not hesitate to contact Barry or Kim with the Hoey Team â˜˜ brokered by eXp Realty

Email us at Barry@SWFLLuxury.Com  or KimZuponcic@Gmail.com or Call/Text the Hoey Team ☘ at:  (239)-360-5527 

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Most of our business is referrals by word of mouth; from past Sellers and Buyers who we have helped; please ask for and check out our testimonials and Sales Stats.  Thanks, Barry & Kim â˜˜

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