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Many struggling homeowners who are delaying their mortgage payments through so-called forbearance programs will get a new repayment option, allowing them to make missed payments when the home is sold or the loan term is over, the Federal Housing Finance Agency said Wednesday.

The deferral option applies to homeowners who have a mortgage backed by the two government-controlled mortgage companies that the FHFA oversees: Fannie Mae and Freddie Mac.

Under the CARES Act stimulus law, borrowers with government-backed loans — through the Federal Housing Administration, the Department of Veterans Affairs, the U.S. Department of Agriculture, Fannie Mae or Freddie Mac — have the right to delay their mortgage payments for up to a year if they had a financial hardship tied to the coronavirus pandemic.

Most homeowners have a government-backed loan and millions have signed up for forbearance. But there has been mass confusion about how borrowers will make up for the payments they missed.

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