The Biden administration rolled out new measures on Friday aimed at preventing pandemic-related foreclosures.
The new measures apply to FHA, VA, Fannie Mae, Freddie Mac and USDA loans.
According to the Urban Institute, about 75% of new home loans are backed by the federal government.
Paula Powers-Watts, executive director of Credit Counseling Center in Bucks County, started doing this work during the 2008 recession.
"I have so many homeowners that are calling me regularly to call in, check in, to see if these programs have come to fruition," Watts said.
"I would say this pandemic we've been going through has been a little bit more dire than the previous collapse of the economy."
The changes are for those who deferred payments on their mortgage.
If your income has returned to normal income, the partial claim has been extended.
"And that partial claim takes the past due balance - whatever it is - and makes it due at the end of the loan," Watts said.
And for those who have seen a loss of income, new measures will be implemented to offer a roughly 25% reduction in monthly payments through refinancing, extended terms, and lower rates.
"We're talking about lowering interest rates, extending the terms of loans. So there's a lot of good things in the mix here," Watts said.
Currently, about three percent of active mortgages are seriously delinquent.
"The jobs are opening up, things are turning around, so keep your eyes open, ears open," Watts said.
The goal is not repeat the same mistakes of the 2008 recession and give homeowners room to make their bills.
The new tools are expected to become available within the next few months.
If you have questions the first thing you want to do is reach out to a free HUD-approved counseling agency, to start looking at your options.
You should also call your mortgage company and let them know you're fighting to keep your home.