Offered in the $2.2 trillion stimulus bill or CARES Act that Congress passed in March, forbearance had some unintended consequences for borrowers.
When it comes to mortgage relief, it is important to know the different mortgage relief options in order to pursue the route that is best for you!
Forbearance is when a lender agrees to let a borrower postpone payments until a later date. The payments are not eliminated.
The coronavirus has thrown us all a curveball, and we know many homeowners are worried about how they will make their mortgage payments. Many mortgage providers have offered to suspend monthly mortgage payments. While saving hundreds or thousands a month may sound like a win, there’s more to consider.