FHA, USDA, and VA borrowers can request COVID-related forbearance until September 30, 2021. Fannie Mae and Freddie Mac's regulator, Federal Housing Finance Agency (FHFA), has also told loan servicers that they should not initiate or continue foreclose actions before July 31. There is currently no deadline for borrowers whose loans are backed by Fannie or Freddie to request COVID-related forbearance. The Mortgage Bankers Association estimates that 2 million homeowners are in forbearance plans. At 3.91 percent as of June 20, the percentage of mortgages in forbearance has declined for 17 weeks in a row. The CFPB is urging homeowners who are having trouble making their mortgage payments to take action now to prevent foreclosure. "While these rules should improve communication between you and your mortgage servicer, no one should wait to start the conversation," the CFPB said in a blog post. "The longer you wait, or the further you fall behind on your payments, the harder it will be to find a solution.