Mortgage Forbearance Trap [What Are Your Options]
Channel: Living In Boca Raton
Date: 2020-04-17

Be careful of the trap of Mortgage Forbearance. There are pros and cons to going through the mortgage forbearance process that you need to be aware of. The CARES Act that was passed at the end of March makes it so you can skip upto 1 full year of mortgage payments through a process called Forbearance, even if you don't have any financial problems because of the Coronavirus and COVID-19. Sounds great, right? Well, maybe not so much. In this video, I explain what Forbearance is, how you can get it, what your options might be, and most importantly, how to protect yourself if you're getting forbearance. If you, or someone you know owns a home...you need to watch this and get educated on this, before you make a decision you'll regret. Remember, skipping mortgage payments may sound great, but Forbearance does not mean Forgiveness!

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