Real Estate

Lenders give mortgage relief amid pandemic. Ask these questions first


Homeowners whose finances have been battered by coronavirus might want to think again before postponing their mortgage payments.

Congress has offered some relief to mortgage borrowers who are experiencing financial strain from the coronavirus pandemic, which has left a flood of layoffs in its wake.

The Coronavirus Aid, Relief, and Economic Security Act – or CARES Act – has a provision that would allow affected homeowners to apply for up to a 12-month reprieve on some mortgages.

This covers people who have federally backed mortgages, including loans owned by Fannie Mae or Freddie Mac.

States have also rolled out their own relief measures for borrowers whose mortgages aren’t backed by the…


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