Question

Can my mortgage payments be suspended during the coronavirus disease outbreak in New Mexico?

Answer 1

See full answer The Federal Housing Finance Agency (FHFA) has announced that Fannie Mae and Freddie Mac would provide payment forbearance to borrowers impacted by the coronavirus. Forbearance allows for a mortgage payment to be suspended for up to 12 months due to hardship caused by the coronavirus. FHFA has also directed Fannie Mae and Freddie Mac to suspend foreclosures and evictions for at least 60 days (beginning March 19) due to the coronavirus national emergency. The foreclosure and eviction suspension applies to homeowners with an Enterprise-backed single-family mortgage. Many mortgage lenders in New Mexico are backed by Fannie Mae and Freddie Mac and will follow these directives accordingly. Please contact your lender for information specific to your mortgage. If you have received an eviction notice, please call the state's COVID-19 general hotline at 1-833-551-0518.