There are hardship programs in place to help homeowners who have been directly or indirectly affected by the coronavirus and are struggling to make their mortgage payments. The Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac, encourages homeowners adversely impacted by the coronavirus who are having difficulty paying their mortgages to reach out to their mortgage servicers as soon as possible. As the Consumer Financial Protection Bureau advises, “you can find the number for your mortgage servicer on your monthly mortgage statement or coupon book.”
FHFA has established a dedicated webpage with relevant updates and resources available here: www.fhfa.gov/coronavirus
Additionally, Fannie Mae and Freddie Mac have their own dedicated webpages for homeowners, with online tools for determining if your mortgage is owned by Fannie Mae or Freddie Mac:
Fannie Mae: Coronavirus (COVID-19) Help
Freddie Mac: Extending Help to Homeowners Impacted by COVID-19
Save Our Home AZ is a foreclosure assistance program for underemployed and unemployed Arizonans offering Principal Reduction Assistance, Monthly Mortgage Subsidy Assistance and Second Lien Elimination Assistance to qualified homeowners. The program’s goal is to aid homeowners in avoiding foreclosure by assisting with mortgage affordability.