An Update on Mortgage Forbearance

If you have another option that will allow you to make your monthly
mortgage payment, opt for that instead of a forbearance. Here’s why.

 

A mortgage forbearance is an opportunity for consumers who have been financially impacted by the coronavirus outbreak to contact their loan servicer and request a short-term extension on your payment due dates (as you know, these payments are not forgiven, they’re just delayed).

Today I wanted to inform you that, just by seeking out forbearance information from your lender, you could actually be negatively affected; you’ll no longer have access to some of these historically low interest rates for a refinance. In this climate, those who simply seek information on forbearance are treated the same as someone who’d actually been granted one.

If you’d like to have a conversation about your options, please give me a call at (818) 20-SCOTT. Stay safe and be well!

scottgriffin

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