If you're struggling to keep up with your mortgage payments, you're not alone — and more importantly, you have real options. The cost of living has continued to climb for many families, and mortgage payments are often one of the biggest strains on a household budget. Here's what's actually available right now, as of 2026.
A Quick Note on Virginia's Homeowner Assistance Program
If you've heard about the Virginia Mortgage Relief Program (VMRP), it's worth knowing that program is now fully closed — all allocated funds have been disbursed, and it's no longer accepting applications. If you're seeing outdated information online suggesting otherwise, that's likely leftover content from a few years back — the landscape has changed since then, which is exactly why we're updating this post.
The good news: there are still real, active programs designed to help.
What's Actually Available Right Now
FHA Payment Supplement (now a permanent program) As of February 2026, the FHA's Payment Supplement became a permanent loss mitigation tool, not just a temporary pandemic measure. If you have an FHA-insured mortgage, this program can reduce your monthly payment by up to 25% through a 0%-interest junior lien (called a "partial claim") — and importantly, it lets you keep your existing interest rate rather than refinancing into a potentially higher one. This is one of the most meaningful options currently available for FHA borrowers facing hardship.
Fannie Mae & Freddie Mac Flex Modification If your loan is backed by Fannie Mae or Freddie Mac, a Flex Modification can restructure your loan terms to lower your monthly payment — for example, extending a 30-year loan to 40 years, or reducing your interest rate. This remains a solid, active option for eligible borrowers.
Streamline Refinance (FHA, VA, USDA) If you have a government-backed loan, a Streamline Refinance is worth exploring — it typically requires less paperwork (often no new appraisal or income re-verification) and can lower your rate or payment. For veterans specifically, the VA's Interest Rate Reduction Refinance Loan (IRRRL) is a streamlined option that can even be used in some cases if your current loan is delinquent, as long as the underlying hardship has been resolved.
Free HUD-Approved Housing Counseling Before making any decision, it's worth talking to a HUD-approved housing counselor — this service is completely free and can help you understand your options, communicate with your servicer, and avoid scams that specifically target homeowners in financial distress. You can find one through HUD's website or by calling 800-569-4287.
A Personal Note
As agents with real experience in foreclosures, REO properties, and short sales, we've walked alongside homeowners through some genuinely difficult moments — and we know firsthand that reaching out early, before a situation becomes urgent, almost always leads to better outcomes than waiting. There's no shame in asking for help. The homeowners who come out of a hard financial stretch in the best position are usually the ones who started the conversation early, not the ones who waited until the last possible moment.
If you're facing a mortgage hardship and aren't sure where to start, we're glad to talk through your options with you — confidentially, and with no pressure. Sometimes just understanding what's actually available can bring real peace of mind.
Matt & Lourdes Spinosa The Spinosa Realty Group (703) 380-6708