MICHIGAN — The program helping people financially impacted by the on-going pandemic response to stay in their homes will continue through the rest of 2021.
Governor Whitmer, the Michigan Department of Insurance and Financial Services, and more than 225 financial institutions agreed to an extension of the MiMortgage Relief Partnership.
The program, launched back in April 2020, allows homeowners to work with lenders and mortgage companies to reduce or delay payments for a short period of time during a financial hardship caused by the pandemic.
Homeowners who contact their lender can receive a 90-day grace period or forbearance of mortgage payments, waived fees, protection from foreclosure, and restrictions on negative credit score reporting.
Financial institutions are not required to provide these options, but the more than 200 companies taking part in the program agree to follow the guidelines when making agreements with homeowners.