Please keep making your mortgage payments. If job loss occurs due to the coronavirus impact, mortgage payment help can be obtained but there are many requirements to understand so get educated quickly.
Call and talk with your mortgage payment service company about your forbearance options BEFORE you can no longer make payments. YOU must continue making your mortgage payments if you are able until your mortgage servicer approves any relief they will extend to you. Start by watching the instructional video the Consumer Finance Protection Bureau, (CFPB) has published located HERE.
Also, please read the March 31, 2020 CFPB article below about the new federal law, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which puts in place two protections for homeowners with federally backed mortgages:
- A foreclosure moratorium
- A right to forbearance for homeowners who are experiencing a financial hardship due to the COVID-19 emergency
If you don’t have a federally backed mortgage, you still may have relief options through your mortgage servicer or from your state.
Please go below to read the entire March 31, 2020 CFPB article: