Over 307K Mississippi residents behind on mortgage payments, officials say; COVID-19 forbearance available

MISSISSIPPI — The city of Southaven, Miss. has released guidance for people who are behind on their mortgage payments.

More than 307,000 families with FHA-insured mortgages that are behind on payments have not yet requested a forbearance and risk losing their homes, according to a release from the city.

The COVID-19 forbearance, a reduction or pause in mortgage payments, must be requested by June 30.

In Mississippi, as of April 30, over 307,000 homeowners with FHA-insured single-family mortgages were at least two payments behind and had not requested forbearance from their servicer, according to the city.

In DeSoto County alone, there are 500 delinquent borrowers.

Borrowers should contact their mortgage servicer and request a COVID-19 forbearance.

The mortgage servicer is the only one who can provide a mortgage payment forbearance.

More from the city’s release:

· When working with your servicer, you should:

§ 1) State that you are having a financial hardship due to COVID-19. You will not be required to provide documentation of this hardship;

§ 2) Request a COVID-19 Forbearance for your mortgage payments;

§ 3) Ask your servicer to confirm the details of your agreement in writing.

· For help talking to your mortgage servicer or understanding your options, call (800) 569-4287 to immediately contact a HUD-approved housing counseling agency in your area.

· HUD urges all homeowners who are able to make their mortgage payments to continue to do so. But if you cannot make your mortgage payments, know that you are not alone.


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