A Missouri City couple has been indicted for orchestrating a fraudulent financing and refinancing mortgage loan scheme, the United States Department of Justice announced Wednesday.

The Federal Housing Administration (FHA) announced that it is expanding and enhancing its set of loss mitigation options used to help borrowers struggling to make mortgage payments on their FHA-insured mortgages.

HOUSTON – Over the last year, millions of Americans have refinanced their homes to save money by taking advantage of low interest rates. 2020 interest rates vs. 2021 interest ratesIn November and December of 2020, you could get a 30-year mortgage for 2.5% interest. To get a general idea of how much you can save, you can use NerdWallet’s mortgage refinance calculator. If we knew we would be in our hypothetical home at least 4 years, Smith says refinancing it would be worth it. She said if interest rates have dropped at least 1% since the first refi, it might make sense.

HOUSTON – Envoy Mortgage of Houston surprised three families in the Houston area by picking up their mortgage bills. “Every mortgage payment from now until the end of 2021 is now free and clear,” said the Today Show host. To show appreciation, Envoy Mortgage paid an entire year’s worth of the family’s mortgage. Envoy Mortgage surprised her and her two sons out of their home with a check for one month of her mortgage bill. Envoy Mortgage will select 50 of its customers from across the country January - June 2021 to receive one month’s mortgage payment up to $3,000 per household.

That’s why we went straight to the experts to find out what you need to know if you’re thinking about refinancing. You could find extra cash by refinancing your mortgage. The cost of so-called “free” refinancing will be added on to your interest rate. Let’s say you need to refinance $250,000 with a 3.5% interest rate, you will save more than $1,100 a month (assuming your current interest rate is 5%). But before you call a lender, it’s important to know why you’re refinancing.

HOUSTON – Millions of Americans are out of work and not able to pay their mortgage right now. Before you take them up on this offer and skip a payment or a few, hold up. You should know that skipping just one payment could do more damage in the long run. “It's what they're not telling you.”Baker said your credit report will have the word “forbearance” on it, a kind of scarlet letter. “The minute someone opts not to make a payment or two or three, immediately- their credit report is branded with the word 'forbearance,’" she explained.

(CNN) -- When Mark Miano’s real estate business slowed following the coronavirus shutdown, he called his mortgage company to ask about delaying payments for his home in Los Gatos, California. Forbearance -- or the process of delaying mortgage payments for a given period of time -- is typically allowed only on a case-by-case basis for homeowners experiencing hardship or after a natural disaster. Under the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, homeowners affected by coronavirus with federally backed loans can delay or reduce payments for up to a year. "What they are offering now could certainly help borrowers that get laid off or don't have the money to make the mortgage payment," he said. During the forbearance period, servicers will typically evaluate your situation to determine your ability to pay.

HOUSTON – Many homeowners that are having a hard time paying their mortgage during this pandemic can ask their mortgage company for help. But Consumer Reports researchers said many mortgage companies were giving homeowners who called inaccurate information. There are four options homeowners and mortgage companies can choose to repay those skipped payments back when the homeowner gets back on their feet. You can find out if you have a federally-backed mortgage, by using Fannie Mae’s look-up tool or calling 800-232-6643. If your mortgage is federally backed, and you need help, call your mortgage company back and ask for it.

A U.S. representative is proposing a bill that could cancel all rent and mortgage payments through the duration of the coronavirus pandemic. The “Rent and Mortgage Cancellation Act of 2020” is being proposed by Minnesota’s Democratic Rep. Ilhan Omar. During the COVID-19 suspension, tenants and residents will also not accumulate debt, face additional fees, penalties or interests, or have their credit scores or rental history negatively impacted due to nonpayment, the proposed bill states. The act also establishes a landlord relief fund that would reimburse losses from the canceled payments. Click here to read the full proposed bill.

MortgagesHomeowners struggling to pay their mortgage should contact their loan servicer to discuss payment options. Some states are offering rent assistance, like Delaware, which offers up to $1,500 to residents struggling to pay rent or electric bills because of coronavirus. Student loansThose with federal student loans may not have to make payments through September 30, as the government is suspending payments and waiving interest on federal student loans for six months. The six-month suspension and interest waiver applies only to federally held loans, roughly 85% of federal student loans. That includes Direct federal loans, as well as PLUS loans that parents may have taken out on behalf of their children.

KPRC 2consumer expert Amy Davis spoke with financial educator Tiffany Aliche to help guide you through which bills to pay and which ones to delay. I don’t have enough money to pay rent. Sugar Land real estate attorney Himesh Ghandi talked with Davis about what your rights are in case you can’t make rent. Worried about making your mortgage or rent payment during the coronavirus outbreak? Click here to read more about how you can get help if you are struggling with mortgage or rent payments.

HOUSTON – As the coronavirus pandemic has caused a great economical crisis, many workers have been laid-off or are not receiving pay during business closures. If you’re worried about missing a mortgage payment, contact your lender immediately. Numerous banks have said they are willing to work with distressed borrowers, including potentially suspending or reducing mortgage payments for a stretch. TAA advises renters to communicate with their property manager if they find themselves unable to pay rent. According to the association, they have encouraged rental property owners to waive late fees and set up a payment plan for residents impacted by the COVID-19 crisis.

Coronavirus concerns are causing some crazy fluctuations on the stock market, but it’s not all bad news. Financial Advisor Richard Rosso with RIA Advisors says there are ways you can make the down market work in your favor. This investment is intended to be long term. You will lose money in market fluctuations like we’re seeing now; but over the long term, you will make money. Don’t take everything out of the stock market.