Forbearance 101Posted by Larry Tollen on
The mass casualty of job loss in virtually every sector has seen many homeowners considering mortgage forbearance. If you own a home you've likely received notification from your lender regarding their "willingness" to work with you. Even if you don't own a home, you've likely heard on the radio or TV or online, that the Federal Government through Fannie Mae and Freddie Mac has made all of the lenders who do business with them (Almost all of them) to offer Forbearance and prohibiting them from foreclosing (or in the case of renters; from evicting) for 1 year. While this sounds great as usual there's much more to it than simply being forgiven your payments.
My NC Homes has always believed in supplying our clients the information…
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