Borrowers with Fannie Mae or Freddie Mac-backed mortgages have been granted an additional two months to avoid foreclosure if they’ve applied for assistance from the Department of the Treasury.

An announcement by the Federal Housing Finance Agency on Wednesday notified servicers that they must halt foreclosure activities for up to 60 days if a borrower with a GSE-backed mortgage applied for assistance from the Treasury’s Homeowner Assistance Fund (HAF).

Under the American Rescue Plan Act of 2021, HAF provides close to $9.96 billion in financial relief for homeowners, with at least 60% of the details ⇒

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