Florida Attorney General Ashley Moody, along with a bipartisan coalition of 34 attorneys general, sent letters to the Federal Housing Finance Administration and the Department of Housing and Urban Development, recommending certain actions be taken to help homeowners.
In the letters, the coalition praises recent federal efforts to suspend evictions and foreclosures, as well as the additional forbearance and foreclosure relief provided by the CARES Act.
But Moody notes that more must be done to help homeowners who have lost their jobs due to the COVID-19 pandemic.
As it stands, paused mortgage payments would need to be paid in a lump sum after the crisis ends. Moody and the coalition recommend moving the forborne, or missed, payments to the back of the loan term.
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