Los Angeles Sheriff's Deputies walk up to an apartment to carry out an eviction, as the spread of Covid-19 continues, in Los Angeles on Jan. 13, 2021. According to the agency, eligibility for the extension is limited to borrowers who are on a COVID-19 forbearance plan as of Feb. 28, 2021. The initial forbearance period may be up to 180 days and the borrower may request an extension of up to an additional 180 days. Borrowers who are on a COVID-19 forbearance plan as of February 28, 2021, are eligible for the extensions. Popular Articles Average 401(k) balance 02/16/2021 07:21 am est Link Copied The Biden administration announced Tuesday that it would extend the foreclosure moratorium and mortgage forbearance through the end of June. Keep in mind that March 31 is the deadline to request forbearance. Since then, the forbearance has been extended throughout 2020 and into 2021, with the most recent extension set to expire at the end of this month. To get the forbearance extension, borrowers must have a COVID-19 forbearance plan in place on or before February 28, 2021, and other limits might apply. To get current information on various mortgage-relief options during the coronavirus crisis, homeowner protections, and important deadlines, go to consumerfinance.gov/housing . While the market digests the acquisition of Flagstar by NY Community Bancorp by the end of 2021… The FHFA said other limits may apply to the extension … Black Knight Says Forbearance Extensions Could Change Landscape. Borrowers who experience financial hardship due, directly, or indirectly, to the COVID-19 emergency may verbally request and be granted an initial forbearance on or before June 30, 2021. However, the program has since been extended to March 31, 2021, and more recently extended until June 30, 2021. You have until June 30, 2021 to request the initial COVID forbearance for whatever type of covered federal mortgage you have. The initial payments pause was limited to six months, but homeowners could request a six-month extension. Lucy Nicholson / Reuters Feb. 16, 2021… Conventional, FHA, VA, and USDA loans are also offering forbearance extensions until at least mid-2021. Millions of student loan borrowers received a welcome reprieve last month when President Joe Biden extended the suspension of payments and … Given the eligibility requirement, it remains to be seen from incoming data how many borrowers who are not already in forbearance as of February 28 could also apply for forbearance … To ask for a forbearance extension, you’ll need to have first applied for that initial forbearance by February 28, 2021 (for Fannie Mae and Freddie Mac loans), or June 30, 2021 (for VA, FHA, USDA, or HUD loans). https://www.consumerfinance.gov/.../help-for-homeowners/extend-forbearance