--- title: The CARES Act – Mortgage Forbearance Relief Breakdown description: homeowners who have the ability to pay their mortgage should do so. In the event you are unable to make a future mortgage payment, please call your mortgage servicer immediately and request assistance on forbearance under the new CARES Act. image: https://www.carringtonwholesale.com/wp-content/blogs.dir/2/2020/04/Market-Trends_20200406.jpg --- [Skip to content](https://info.carringtonmortgage.com/knowledge-base/the-cares-act-mortgage-forbearance-relief-breakdown#main-content) ![bell icon](https://info.carringtonmortgage.com/hubfs/raw_assets/public/Templates/2022/svg/Alert-Notifications-Icon.svg) [![Carrington Mortgage Services](https://info.carringtonmortgage.com/hs-fs/hubfs/carrington_logo_final_2col_rgb.png?width=250&height=57&name=carrington_logo_final_2col_rgb.png)](https://www.carringtonmortgage.com) - [About Us](https://www.carringtonmortgage.com/our-mission) - [Careers](https://www.carringtonhc.com/careers) - [Investors](https://www.carringtonhc.com/investors) - [Contact Us](https://www.carringtonmortgage.com/contact-us) [Recent Transfer](https://www.carringtonmortgage.com/new-customers) [Customer Login](https://www.carringtonmortgage.com/login) MAKE HOME WORK Manage My Home arrow-down-anticon/submenu Manage My Mortgage arrow-down-anticon/submenu Learning Center MAKE HOME WORK Manage My Home arrow-down-anticon/submenu - I Am Ready to Start - [Buy a Home](https://www.carringtonmortgage.com/home-loans/buy-a-home/check-existing-customer) - [Refinance My Home](https://www.carringtonmortgage.com/home-loans/refinance-a-home/refinance-step) - What Loan Is Right For Me? - [Purchase Options](https://www.carringtonmortgage.com/home-loans/buy-a-home) - [Refinance Options](https://www.carringtonmortgage.com/home-loans/refinance-a-home) - What is Involved in Getting a Loan? - [The Loan Process](https://www.carringtonmortgage.com/tools/loan-process) - I Want to Calculate... - [Monthly Mortgage Payment](https://www.carringtonmortgage.com/tools/calculators) - [Home Affordability](https://www.carringtonmortgage.com/tools/calculators#affordability) - [Cost to Refinance](https://www.carringtonmortgage.com/tools/calculators#refinance) - [Loan Comparison](https://www.carringtonmortgage.com/tools/calculators#comparison) - Partner With Us - [Home Builders](https://www.carringtonmortgage.com/Partner-with-Us/home-builders) - [Real Estate Agents](https://www.carringtonmortgage.com/Partner-with-Us/real-estate-agents) - I Have Questions - [Need an Expert](https://www.carringtonmortgage.com/find-an-expert) Manage My Mortgage arrow-down-anticon/submenu - I Just Had My Loan Transferred Here - [New to Carrington Onboarding?](https://www.carringtonmortgage.com/new-customers) - How Do I Repay My Loan - [Payment Options](https://www.carringtonmortgage.com/payment-options) - [Payoff Statement](https://www.carringtonmortgage.com/payoff-statements) - What Are Servicing Fees? - [See the Schedule of Fees](https://www.carringtonmortgage.com/schedule-of-fees) - I Need Help With - [Mortgage Assistance](https://www.carringtonmortgage.com/mortgage-assistance) - [Disaster Assistance](https://www.carringtonmortgage.com/disaster-assistance) Learning Center - [About Us](https://www.carringtonmortgage.com/our-mission) - [Careers](https://www.carringtonhc.com/careers) - [Investors](https://www.carringtonhc.com/investors) - [Contact Us](https://www.carringtonmortgage.com/contact-us) --- Recent Transfer --- Customer Login [Market Trends](https://info.carringtonmortgage.com/knowledge-base/tag/market-trends) # The CARES Act – Mortgage Forbearance Relief Breakdown [Jordan](https://info.carringtonmortgage.com/knowledge-base/author/jordan) [![Share on Facebook](https://info.carringtonmortgage.com/hs-fs/hubfs/EHO/facebook.png?width=24&name=facebook.png)](http://www.facebook.com/share.php?u=https%3A%2F%2Finfo.carringtonmortgage.com%2Fknowledge-base%2Fthe-cares-act-mortgage-forbearance-relief-breakdown%3Futm_medium%3Dsocial%26utm_source%3Dfacebook) [![Share on LinkedIn](https://info.carringtonmortgage.com/hs-fs/hubfs/EHO/linkedin.png?width=24&name=linkedin.png)](http://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Finfo.carringtonmortgage.com%2Fknowledge-base%2Fthe-cares-act-mortgage-forbearance-relief-breakdown%3Futm_medium%3Dsocial%26utm_source%3Dlinkedin) [![Share on Twitter](https://info.carringtonmortgage.com/hs-fs/hubfs/EHO/twitter.png?width=24&name=twitter.png)](https://twitter.com/intent/tweet?original_referer=https%3A%2F%2Finfo.carringtonmortgage.com%2Fknowledge-base%2Fthe-cares-act-mortgage-forbearance-relief-breakdown%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&url=https%3A%2F%2Finfo.carringtonmortgage.com%2Fknowledge-base%2Fthe-cares-act-mortgage-forbearance-relief-breakdown%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&source=tweetbutton&text=The%20CARES%20Act%20%E2%80%93%20Mortgage%20Forbearance%20Relief%20Breakdown) [![Share on Pinterest](https://static.hubspot.com/final/img/common/icons/social/pinterest-24x24.png)](http://pinterest.com/pin/create/button/?url=https%3A%2F%2Finfo.carringtonmortgage.com%2Fknowledge-base%2Fthe-cares-act-mortgage-forbearance-relief-breakdown%3Futm_medium%3Dsocial%26utm_source%3Dpinterest&media=https%3A%2F%2Fcms.carringtonhomeloans.com%2Fhubfs%2FEHO%2Fpinterest.png) [![Share on Email](https://info.carringtonmortgage.com/hs-fs/hubfs/EHO/email.png?width=24&name=email.png)](mailto:?subject=Check%20out%20https%3A%2F%2Finfo.carringtonmortgage.com%2Fknowledge-base%2Fthe-cares-act-mortgage-forbearance-relief-breakdown%3Futm_medium%3Dsocial%26utm_source%3Demail%20&body=Check%20out%20https%3A%2F%2Finfo.carringtonmortgage.com%2Fknowledge-base%2Fthe-cares-act-mortgage-forbearance-relief-breakdown%3Futm_medium%3Dsocial%26utm_source%3Demail) ![](https://www.carringtonwholesale.com/wp-content/blogs.dir/2/2020/04/Market-Trends_20200406.jpg) **Last Week in Review:** Coronavirus Fallout to Hit Homeowners [![](https://www.carringtonwholesale.com/wp-content/blogs.dir/2/2020/04/Market-Trends_20200406.jpg)](https://www.carringtonwholesale.com/wp-content/blogs.dir/2/2020/04/Market-Trends_20200406.jpg) The Coronavirus has impacted millions of Americans across the country due to job loss and furloughs making it difficult, and sometimes impossible, for homeowners to make their mortgage payments. The U.S. government has stepped in to offer homeowners financial relief during this unprecedented time with the Coronavirus Aid, Relief, and Economic Security (CARES) Act. With this new Act, government-sponsored agencies such as Fannie Mae and Freddie Mac will offer forbearance agreements with protections for those homeowners in need. **What is a forbearance?** A forbearance is an agreement between a homeowner and their mortgage servicer (to whom they send their mortgage payments) to suspend payments for a period of time. The homeowner does not incur late fees or other penalties during the forbearance. Additionally, mortgage terms are unchanged, and the homeowner agrees to make up the accrued interest and payments in the future. Typically, a forbearance will affect a homeowner’s credit rating, however, there are a few differences in forbearances during COVID-19 which can be found on the Fannie Mae and Freddie Mac websites. Loan servicers have been instructed to provide mortgage relief options which include: - Ensuring payment relief by providing forbearance for up to 12 months. - Waiving assessments of penalties or late fees. - Halting of foreclosures and evictions of borrowers living in homes owned by the mortgage servicer until at least May 17, 2020 (Freddie Mac). - Suspending the reporting to credit bureaus of past due payments of those in forbearance due to the COVID-19 emergency. - Offering loan modifications for payment relief to keep mortgage payments the same after the forbearance period. - Borrowers are eligible regardless of whether their property is an investment, second home, or owner-occupied. Bottom line: homeowners who have the ability to pay their mortgage should do so. Homeowners who are unable to, should contact their mortgage servicer immediately and request assistance on forbearance under the new CARES Act. ## Related Articles [![Student Loan Debt Article](https://info.carringtonmortgage.com/hubfs/Student%20Loan%20Debt%20Article.jpg)](https://info.carringtonmortgage.com/knowledge-base/student-loan-debt-can-you-still-afford-a-home) [Home Loans](https://info.carringtonmortgage.com/knowledge-base/tag/home-loans) [Mortgage Payment](https://info.carringtonmortgage.com/knowledge-base/tag/mortgage-payment) [Homeowner](https://info.carringtonmortgage.com/knowledge-base/tag/homeowner) ### [Student Loan Debt: Can You Still Afford a Home?](https://info.carringtonmortgage.com/knowledge-base/student-loan-debt-can-you-still-afford-a-home) While it is true that student loan debt impacts many parts of your life, it does not entirely impact your choice to obtain a mortgage. According to [Student Loan Hero](https://studentloanhero.com/student-loan-debt-statistics/),... [Brianna](https://info.carringtonmortgage.com/knowledge-base/author/brianna) [Read More](https://info.carringtonmortgage.com/knowledge-base/student-loan-debt-can-you-still-afford-a-home) [![Credit Issues That May Affect Your Mortgage Loan-1](https://info.carringtonmortgage.com/hubfs/Credit%20Issues%20That%20May%20Affect%20Your%20Mortgage%20Loan-1.jpg)](https://info.carringtonmortgage.com/knowledge-base/credit-issues-that-may-affect-your-mortgage-loan) [Home Loans](https://info.carringtonmortgage.com/knowledge-base/tag/home-loans) [Mortgage Payment](https://info.carringtonmortgage.com/knowledge-base/tag/mortgage-payment) [Homeowner](https://info.carringtonmortgage.com/knowledge-base/tag/homeowner) [Credit Score](https://info.carringtonmortgage.com/knowledge-base/tag/credit-score) ### [Credit Issues That May Affect Your Mortgage Loan](https://info.carringtonmortgage.com/knowledge-base/credit-issues-that-may-affect-your-mortgage-loan) No doubt about it, applying for a mortgage can be a long and involved process that can leave you feeling drained and financially exposed. But it’s in your best interest... [Jordan](https://info.carringtonmortgage.com/knowledge-base/author/jordan) [Read More](https://info.carringtonmortgage.com/knowledge-base/credit-issues-that-may-affect-your-mortgage-loan) ## Mortgage & Lending Services - [Buy a Home](https://www.carringtonmortgage.com/home-loans/buy-a-home) - [Refinance a Home](https://www.carringtonmortgage.com/home-loans/refinance-a-home) - [Mortgage Calculators](https://www.carringtonmortgage.com/tools/calculators) - [The Loan Process](https://www.carringtonmortgage.com/tools/loan-process) - [Find an Expert](https://www.carringtonmortgage.com/find-an-expert) - [Home Builders](https://www.carringtonmortgage.com/Partner-with-Us/home-builders) - [Real Estate Agents](https://www.carringtonmortgage.com/Partner-with-Us/real-estate-agents) ## Terms - [Privacy Policy](https://www.carringtonmortgage.com/legal/privacy-policy) - [California Consumer Privacy Act Notice](https://www.carringtonmortgage.com/legal/ccpa-notice) - [State Licensing](https://www.carringtonmortgage.com/legal/state-licensing) - [Terms and Conditions](https://www.carringtonmortgage.com/legal/terms-conditions) - [Best Practices](https://www.carringtonmortgage.com/legal/best-practices) - [Fair Lending Statement / HMDA Notice](https://www.carringtonmortgage.com/legal/fair-lending-statement) - [Consumer Fraud Alert](https://www.carringtonmortgage.com/legal/consumer-fraud-alert) - [Equal Opportunities](https://www.carringtonmortgage.com/legal/Equal-opportunities) ## Manage Your Mortgage - [Payment Options](https://www.carringtonmortgage.com/payment-options) - [Mortgage Assistance](https://www.carringtonmortgage.com/mortgage-assistance) - [Disaster Assistance](https://www.carringtonmortgage.com/disaster-assistance) - [Scheduling Servicing Fee](https://www.carringtonmortgage.com/schedule-of-fees) - [Payoff Statements](https://www.carringtonmortgage.com/payoff-statements) ## Contact Us - Current Customers ## About Us - [Our Mission](https://www.carringtonmortgage.com/our-mission) - [Foundation](https://www.carringtoncf.org) - [Holding Company](https://www.carringtonhc.com) - [Accessibility](https://www.carringtonmortgage.com/accessibility) - [Press and Media](https://www.carringtonmortgage.com/pressandmedia) - [Contact us](https://www.carringtonmortgage.com/contact-us) ## Get the App [![](https://info.carringtonmortgage.com/hs-fs/hubfs/raw_assets/public/Templates/2022/svg/Carrington-mobile-apple.jpg?width=135&height=42&name=Carrington-mobile-apple.jpg)](https://apps.apple.com/us/app/carrington-mobile/id1673471360) [![](https://info.carringtonmortgage.com/hs-fs/hubfs/raw_assets/public/Templates/2022/svg/White-Google-1.jpg?width=135&height=42&name=White-Google-1.jpg)](https://play.google.com/store/apps/details?id=com.carringtonms.CMSMobile2&pli=1) [Icon-Facebook](https://www.facebook.com/CarringtonHomeLoans/) [Icon-Twitter](https://twitter.com/CarringtonMS) [Icon-Linkedin](https://www.linkedin.com/company/carrington-mortgage-services-llc) [Icon-Instagram](https://www.instagram.com/carringtonmortgage/) Icon-EHO Consumer Access NMLS ID #2600 | Copyright 2026 Carrington Mortgage Services, LLC. All rights reserved.