USDA New COVID-19 Special Relief Measures and Existing Guidance for Servicing Impacted Borrowers

July 23, 2021

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USDA announces advanced updates to Handbook HB-1-3555, Chapter 18 Section 5, which has been expanded to included COVID-19 Special Relief Alternatives , including an option that targets a 20% reduction in the borrower’s monthly principal and interest payments by offering a combination of interest rate reduction, term extension, and mortgage recovery advance that is immediately available and will remain in effect until December 31, 2022.

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