Forbearance is when a lender agrees to let a borrower postpone payments until a later date. The payments are not eliminated.
While your health and welfare are top priorities during the COVID-19 pandemic, you may also be concerned about how current economic conditions can impact your financial situation.
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.