2020 Mortgage Assistance Payments and Your Pay Stub


Presented by Paystrubmakr.com      By John Wolf and Tom Cullen CPA

World Health Organization

To prevent infection and to slow transmission of COVID-19, do the following:

  • Wash your hands regularly with soap and water, or clean them with an alcohol-based hand rub.

  • Maintain at least a 1-meter distance between you and people coughing or sneezing.

  • Avoid touching your face.

  • Cover your mouth and nose when coughing or sneezing.

  • Stay home if you feel unwell.

  • Refrain from smoking and other activities that weaken the lungs.

  • Practice physical distancing by avoiding unnecessary travel and staying away from large groups of people.

  • Coronavirus who

2020 CARES Act

Your mortgage is supposed to have the backup of the Federal Government, protection of the 2020 CARES Act.
This Act allows you to suspend paying your mortgage payment for 360 days if you lost your income or part of it to the level that you experience financial hardship. You can ask for tolerance up to June 30, 2021.

Late fees or reported to credit bureaus are not permitted to Under forbearance by CARES Act legislation,
Before June 30, 2021, Foreclosure and evictions are not allowed.

The Consolidated Appropriations Act (CAA) 2021 and the American Rescue Plan of 2021 contain additional funding for housing relief.


Are you trying to get a loan to buy a house, apartment, or even a boat or RV?  If you do, then you will want to have your pay stubs in hand to get qualified.  Another aspect of the mortgage is that you will want to understand how the government can help you pay the mortgage.

When a taxpayer qualifies for mortgage assistance payments under §235 of the National Housing Act, part or all of the interest on their mortgage may be paid for the taxpayer. The interest that is paid for the taxpayer cannot be deducted. While these payments are not included in income, they do not reduce other deductions, such as taxes.

Before Closing


For example, if you are a teacher, here are some eligibility requirements:

  • You must be employed full-time or part-time as a State certified private school teacher or certified regional vocational-technical teacher.
  • You much purchase a home in a priority or transitional school district. OR You must be certified in and intend to teach in an academic discipline that the state has identified as a shortage area.
  • You must be a first-time homebuyer or have not owned a home in the past three years. Borrowers who have owned a home previously may also apply if they plan to purchase in a targeted area of the state. (for example, see current Targeted Areas for the State of Connecticut)
  • The home will be your primary residence for the life of the loan.
  • The sales price of the home does not exceed State sales price limits.
  • Borrower(s) gross income must not exceed State established income limits based on household size.

Would you like down payment assistance?

You can even get down payment assistance.  Down payment assistance second mortgage loans to qualified borrowers who are receiving the first mortgage. Eligible purposes include: Down payment assistance only, Down payment assistance and closing costs, closing costs only.

Closing or going home
Make sure you know how to fill out the request for mortgage assistance form.  Here is a link to one for Chase bank.
Freddie Mac has even gotten into the game.  They say they are announcing the new “Modification Solution” screen for “Other Mods” in Workout Prospector to facilitate the settlement of modifications of Mortgages guaranteed by
the RHS as well as other modifications that are specified by Freddie Mac from time to time and cannot be settled through other Workout Prospector paths.
Skipping mortgage payment
To facilitate the settlement of RHS Mortgage modifications, services must receive the modification approval letter from RHS before entering and submit the data via the “Modification Solution” screen in Workout Prospector.
When submitting the data to Freddie Mac via Workout Prospector, the Service must complete the data entry in accordance with the instructions set forth in the Workout Prospector Users’ Guide and the terms of the RHS modification approval letter.
 If you need help with your mortgage, we want you to have the information and power to control your finances.  Online pay stub makers can help you get there and qualify for the mortgage you deserve.

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Disclaimer: John Wolf and paystubmakr.com are making a total effort to offer accurate, competent, ethical HR management, employer, and workplace advice.  We do not use the words of an attorney, and the content on the site is not given as legal advice. The website has readers from all US states, which all have different laws on these topics. The reader should look for legal advice before taking any action.  The information presented on this website is offered as a general guide only.