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Federal Mortgage Deferment Program

We discuss what the federal mortgage deferment program involves, how to qualify, and what you can do to take advantage of this program.


Hi I'm Chris Boss with Boss Law.

I'm here to talk about the Federal Mortgage Deferment Program. So, if you own a property in the United States and it is federally backed, which means Freddie Mac, Fannie Mae, VA, FHA, or USDA, under the CARES Act, it is your right to request up to a 1 year deferment.

So what does that mean?

It means there's going to be no payments for one year.

What's amazing is no credit damage for that year.

And at the end of the year, the loan will likely be modified so that the payments are just sort of "put on the back" - meaning that your regular monthly payments will continue after that one year.

So, what do you have to do?

You have to call your mortgage servicer. This is the company you make your payment to, and ask if you qualify for the CARES Act deferment.

Now, if you have a federal loan, you qualify. You are given a right under the CARES Act, which is incredible.

Now, if you do not have a federal loan, you must ask what your mortgage servicer will provide. Which, a lot of them are following the CARES Act guidelines.

What's so incredible about it again?

  • One year, no payments
  • A modification at the end of the year
  • Back to monthly payment
  • No credit damage

If you have any questions, visit our website for more information.