Skip to content
United Settlement
  • Manage Your Debt
    • get-startedGet Started
    • settlementDebt Settlement
    • consolidationDebt Consolidation
    • debt-managmentDebt Management
    • bankruptcyBankruptcy
    • credit-cardCredit Card Debt
    • businessBusiness Debt
    • car-loanAuto Loan Debt
    • student-debtStudent Loan
  • Understand Your Debt
    • credit-cardCredit Card
    • business-2Small Business Debt
    • medicalMedical
    • loansLoans
    • umbrellaCredit Card Relief
    • interest-ratesInterest Rates
    • student-debtStudent Debt
  • Tools & Resources
    • faqFAQs
    • credit-cardCredit Guidance
    • calculatorCalculator
    • call-usContact Us
    • contact-usAbout Us
  • More
    • Debt Settlement
    • Debt Consolidation
    • Reviews
    • FAQs
    • About Us
    • Contact Us
    • Blog
    • Sitemap
    • Debt Relief by State
    • Careers
Debt Relief & Settlement Programs
Logo
United Settlement
phone icon 888-574-5454
client icon Client Log In
  • More
    • About Us
    • Proven Results
    • Reviews
    • Contact Us
    • Debt Settlement
    • Debt Consolidation
    • Debt Management
    • Business Debt Relief
    • Credit Card Debt Relief
    • Debt Relief by State
    • FAQs
    • Blog
    • Sitemap
    • Careers
Qualify For Debt Relief
Debt Relief & Settlement Programs
  • Manage Your Debt
    • get-startedGet Started
    • settlementDebt Settlement
    • consolidationDebt Consolidation
    • debt-managmentDebt Management
    • bankruptcyBankruptcy
    • credit-cardCredit Card Debt
    • businessBusiness Debt
    • car-loanAuto Loan Debt
    • student-debtStudent Loan
  • Understand Your Debt
    • credit-cardCredit Card
    • business-2Small Business Debt
    • medicalMedical
    • loansLoans
    • umbrellaCredit Card Relief
    • interest-ratesInterest Rates
    • student-debtStudent Debt
  • Tools & Resources
    • faqFAQs
    • credit-cardCredit Guidance
    • calculatorCalculator
    • call-usContact Us
    • contact-usAbout Us
  • More
    • Debt Settlement
    • Debt Consolidation
    • Reviews
    • FAQs
    • About Us
    • Contact Us
    • Blog
    • Sitemap
    • Debt Relief by State
    • Careers
United Settlement » Blog » What is Covid 19 Forbearance Extension and How it Affect You

What is Covid 19 Forbearance Extension and How it Affect You

May 3, 2022
Mortgage Forbearance Agreement write on a book isolated on Wooden Table.
Did you apply for a Covid 19 forbearance extension on your mortgage? That grace period is coming to a close.

 

After two months of declining Covid cases, it appears that numbers are once again on the rise. Despite the pandemic continuing to impact our everyday lives as citizens, many pandemic-induced protections, like the Covid 19 forbearance extension on mortgages, are expiring by the day.

If you applied for a Covid 19 mortgage forbearance extension, then you need to know how long it will last. Learn more about the timeline of the Covid forbearance extension program and how long it’s expected to last below.

What is the Covid 19 Forbearance Extension?

In March of 2020, the CARES Act provided relief to millions of homeowners by allowing them to temporarily pause or reduce their mortgage payments. At first, homeowners were given a grace period of up to six months, but they were later given an additional six months. Soon after, the Federal Housing Administration announced a new mortgage forbearance CARES Act extension, which provided an additional six months in forbearance extensions.

How Long Will the Covid 19 Forbearance Extension Last?

Answering the question of how long your Covid 19 forbearance extension will last is complicated. It hinges on when you applied and were initially approved for forbearance.

Are you wondering — can you extend forbearance if you applied back in March of 2020? If you were approved during that time, then you have a maximum of 18 months of protection. In other words, your forbearance period ended back in late 2021.

If you applied back in September of 2021, though, then you could still have up to 12 months of protection. These timelines can be a bit confusing, so we’ll break them down further below:

Mortgage Forbearance Extension 2021

The CARES Act, which was passed in 2020, originally provided all borrowers who were suffering a financial hardship due to the pandemic with automatic mortgage forbearance. This original postponement only lasted up to 180 days, with a mandatory additional 180 days available upon request. In other words, the CARES act itself provided up to a year of forbearance beginning in March of 2020.

In February of 2021, President Biden issued the first extension, which provided an additional 3 months of forbearance for homeowners. In other terms, it was extended until at least June 30, 2021. This extension also provides up to six months of additional forbearance in three-month increments.

Mortgage Forbearance Extension 2022

In all, the current extensions provide up to 18 months of forbearance allowance. For many, that meant their forbearance lasted until late 2021. For others, they’ve been granted more extensions to last them until sometime in 2022. Either way, those mortgage forbearance extensions are expiring sooner rather than later.

Under normal circumstances, borrowers would be liable for the forbearance amount, interest costs, and additional fees once the grace period ends. Since Covid was so unique, though, many lenders are offering to skip all those missed payments entirely in exchange for a longer overall repayment period.

How to Deal With Mortgage Debt Moving Forward

If your forbearance is coming to an end and you don’t think you can afford your payments, then you need to get in touch with your mortgage provider. Often, they can work with you to arrange a payment plan or loan modification that works for you. If you’ve already missed several payments and fallen into significant mortgage debt, then your situation is dire. Your home could be at risk of further collection efforts.

You might also have other questions, like — does forbearance affect getting a mortgage in the future? Will I need to secure new housing, or will I be able to remain in my home?

If you can manage your mortgage debt, then there’s a great chance you’ll stay in your home. If you can’t make a deal with your mortgage provider, then you should research other options.

Do You Need Help Managing Your Mortgage Debt?

Did you apply for a Covid 19 forbearance extension on your mortgage? If so, then it’s important to understand that your extension provides a maximum of 18 months of protection, and that’s only in some situations. You’ll want to know for sure when your mortgage payments will resume. If you’re still unable to make payments, then it’s necessary to contact your mortgage provider as soon as you can to inquire further about your options.

Are you currently facing both mortgage debt and other types of debts? If so, then it might be in your best interests to research your personal debt relief options. Contact our debt experts at 888-574-5454 to learn more about your options moving forward.

Gabriel Gorelik, CEO & Co-Founder
Gabriel Gorelik

Gabriel Gorelik paves the way for customer service and operations at United Settlement. He is passionate about numbers and holds a strong belief in helping anyone with their debt. Before United Settlement, Gabriel received his BS in Finance & Economics from Brooklyn College. After graduation, Gabriel went on to build his first financial services company where he managed over 1,000 business clients. He understands the importance of client satisfaction, professionalism, and exceeding expectations.

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)

Related

Search Blog

Are you in debt? we can help

  • Amount
  • Contact

How much do you owe?

Excellent

Based on 377 reviews.
Overall 4.4 out of 5 stars

View All Reviews

Annette Huggins

March 14

That when it seems like nobody can help United will.

This was a great experience for me. I am just starting but Madelene Gallon made me feel like we were friends for years. She tried to make me feel that she would help me and make sure I got the best deal...

Kiirstin

March 01

Kind and caring

Had been searching for a while for a company I could trust to get me out of crippling debt. Really didn’t think it was possible. Spoke to Ben at United Debt and he assured me that not only was it possible,...

Kiirstin

March 01

Kind and caring

Had been searching for a while for a company I could trust to get me out of crippling debt. Really didn’t think it was possible. Spoke to Ben at United Debt and he assured me that not only was it possible,...

Dylan

February 28

Quick, easy assistance!

I've been working with Ben at United Debt to help me organize and get out of debt for once - I've been dealing with debt for ages and Ben showed me some simple ways to begin dealing with things to keep...

Takota Carrie

February 14

I need help

I really appreciate

JONICA Amber PIRON

December 21

Great!

Renika went above and beyond today to help me. She is wonderful to work with! Thank you again Renika for all of your help today! Happy Holidays to you!

Jayvon

December 20

Paying back

They where great listeners

Shawn abetha

December 14

Everything

Thanks

Robert Phillips

November 23

Do your home eork

Paid several thousand dollars and nothing done. Ended up settling 90%by myself. This is a preatory company. So do your homework. This will never post.

Dm

November 18

Customer service is truly helpful

Renika was so helpful. My account was paid off but I kept receiving notifications. She cleared up the situation.

Jose Rosa

November 16

Great Customer Service

Renika did a wonderful job handling my questions and transactions. She is very patient on the phone and took care of my needs accordingly.

Russ

November 03

Very helpful

Renika did a great job in answering all of my questions in a timely manner. She was polite and friendly. Keep her on the payroll.

Anthony Desoto

October 31

What's Important to me is United Settlement Costumer service !

United Settlement Costumer service is Amazing Everyone is Professional . I am so happy choosing them with my card Debt. thank you all for helping me out .

Ri cky

August 23

That this company has integrity!

A responsive company that keeps it clients up to date and fully informed. I like the fact that I can send them a text and be guaranteed an answer within 24 hrs.

Jerry Bolandis

June 04

Professional and focused on facts and truth not hype. Excellent. We want to know facts.

Great work very professional and great updates. Communication is excellent.

janice head

October 25

trust them

Excellent. Also each time i call there they treat me with respect even though they are probably thinking jerk . You sure have made mess of your life. but they have been taught to smile smile smile. this...

Scott W O'Neill

August 01

Thanks for all your help and negotiations.

Thanks for the update! I have faith in you guys and will continue my payments. Thanks for all your help and negotiations.

Cassandra Robinson

July 30

That A Settlement Was Entered.

I Absolutely Love You All At United Settlements. You All Have Saved My Credit Solutions. I Would Refer Everyone To You Services.

Mildred Yvonne Sherron

July 16

The results of the settlement attempts.

So far, I have found United Settlement more than satisfactory. Very conscientious and very efficient in providing a service in debt settlement. Thank you and all the members of your team who are assisting...

Diana Cardona

July 16

Tough Financial Hard Times During Covid-19

I signed up with United Debt Settlement because of large credit card debts, which had taken a financial toll on my credit. UDS has an outstanding reputation assisting clients like me achieve financial recovery...

  • Contact Us
  • 240 West 37th Street
    Suite 400
    New York, NY 10018
  • (888)-574-5454
  • [email protected]
  • Privacy Policy
  • Terms & Conditions
  • Debt Relief Services
  • Debt Settlement
  • Business Debt Relief
  • Credit Card Help
  • Debt Consolidation
  • Debt Management
  • Student Loan Help
  • Careers
Learn more about debt relief


    • facebook
    • Google Plus
    • Twitter
    • YouTube
    • Instagram
    • Linkedin
    • facebook
    • Tools & Resources
    • Contact Us
    • About Us
    • Blog
    • Debt Calculator
    • Frequently Asked Questions
    • Sitemap
    • Reviews
    • Client Login
    Free Savings Estimate
    Apply Here
    Clients who stay according to debt relief program can realize approximate savings of 50% before fees, or 25% including fees, over 24 to 48 months. All claims are based on enrolled debts. Not all debts are eligible for enrollment. Not all clients complete our program for reasons such as: their ability to save sufficient funds. Estimates based on prior results, which will vary based on specific circumstances. We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period. We do not assume consumer and/or business debt, provide tax, bankruptcy, accounting, legal or credit repair services/ advice. Our program is not available in all states. Please contact a tax professional to discuss tax consequences of settlement. Please consult with a bankruptcy attorney for more information on bankruptcy. If you have any additional questions please contact us. NMLS ID: 1947026
    Copyright 2023. United Debt Settlement, LLC
     

    Loading Comments...