Mortgage Forbearance Does Not Mean Forgiveness, Don’t Let it Mean Foreclosure

Covid 19’s wide-ranging impact sadly involved much more than our health. Just over 10 Million homeowners struggling to pay their mortgage, were forced to enlist forbearance (a temporary interruption in monthly payments) to tide them over until the employment market and their financial position improved. Forbearance however does not mean forgiveness. Those deferred payments are still owed, meaning you must catch up with all missed payments.

Although it was recently extended, the government’s moratorium on foreclosures will be ending soon. On the up-side, our current real estate market is skewed in favor of Home Sellers. Your home value may be higher than you think, and selling your home now could provide even more financial relief than you might have anticipated.

The Consumer Financial Protection Bureau provides a list of Housing Counselors approved by Housing and Urban Development (HUD), who can offer independent advice to homeowners and home buyers.

— What’s My Home Worth —

If your Covid 19 Mortgage Forbearance agreement is nearing expiration and you are weighing all your options, call us for a FREE Home Value estimate. Find out how much equity you have in your home, and how much cash you could walk away with. There is no cost and no obligation- just information.

Call or Text: 602-999-0952

— or eMail us: golfArizona@cox.net —