If you are in mortgage forbearance or considering it, it helps to understand what happens next and what your options are.
Not being able to pay your loan is a scary feeling! 😟 Thankfully, as a homeowner you have ways to avoid foreclosure.🙌🏻 No one wants the stress of losing their home AND going to Court!🏛 Watch this Video 👀 and you’ll feel a little better about your Loan Forbearance!
Your Options After Mortgage Forbearance
Mortgage forbearance temporarily pauses or reduces your payments, but it does not erase them. When it ends, your servicer may offer a repayment plan, a deferral that moves missed payments to the end of the loan, or a loan modification that changes the loan terms.
Call your servicer early, get every agreement in writing and read the terms carefully. If keeping the home no longer makes sense, selling while you still have equity can protect your credit and your savings.
If you are weighing a sale, I can prepare a free home value analysis. See my seller resources to learn more. This post is general information, not legal or financial advice.
