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Mortgage Update

Forbearance Is NOT Forgiveness

There is an important message for clients who are experiencing hardship and are in need of assistance. If you are in need of a forbearance because you have no other options, please contact your servicer to obtain information regarding The Cares Act and other mortgage relief programs. The intention of The Cares Act is to assist homeowners who have a true hardship. Most importantly, it’s unclear what exactly is being done with the differed payments and what impact it will have on your mortgage moving forward. Also remaining unclear, is the impact a forbearance will have on the ability to borrow in the future, whether it be a refinance or purchase. We expect additional information on this in the coming months.

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