SDHDA encourages homeowners to reach out to loan service providers for assistance

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Could The Housing Market Be Changing?,

PIERRE, S.D. (KELO) — The South Dakota Housing Development Authority is calling on homeowners seeking assistance to reach out to loan service providers.  

The SDHDA said homeowners can find contact information for their loan servicer on mortgage statements. 

Homeowners who have mortgages backed by the federal government are provided protections through the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The CARES act provides protection against foreclosure and provides the right to mortgage forbearance – a pause or reduction in mortgage payments for a limited time.

SDHDA said the options do not erase what homeowners owe and people who can make mortgage payments should continue to do so.

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