What Is Mortgage Forbearance and Who Qualifies for It?
Considering everything that’s going on in our world today with COVID-19 and the financial strain it has put on so many people and their families, mortgage forbearance is an important topic I’d like to address today. What is it? Who qualifies for it under the government-backed, $2.2 trillion CARES Act? First, understand that forbearance is NOT forgiveness. Forbearance is simply arranging to delay or reduce your monthly mortgage payments because hardships have made it difficult or impossible to make them. However, after the agreed-upon period of payment delay, you will still owe the balance of the mortgage.
To learn more, click here!