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Michigan homeowners who are late with their mortgage payments can apply for a program where participating lenders are offering temporary forbearance, fee waivers, and foreclosure protections until Dec. 31.
In the state of Michigan in April 2020 began working with more than 240 financial institutions covering banks and credit unions and launched the Mortgage Relief Partnership for the purpose of providing relief to borrowers hit due to the pandemic.
As they are approaching the deadline, the state is persuading Michiganders to contact their mortgage lender before 31st December to checkout for available relief measures and to avoid lagging on payments and becoming delinquent.
The Michigan Department of Insurance and Financial Services said that the borrowers who have are late to make mortgage payments and are already delinquent should contact their lender or servicer immediately and seek forbearance options and repayment plan assistance.
Reference Source: Detroit Free Press
