Happy Aloha Friday!
We hope that everyone is doing well during these times. There are a lot of industries that have been hit hard by COVID-19 and have put some home owners in tough positions. Across the nation the number of unemployment claims, furloughs, and reduced hours keeps rising. If you have been hearing about mortgage assistance or forbearance you should know all the facts and contact your servicer.
Please see the below links from the CFPB (Consumer Financial Protection Bureau) which is the best resource to get an overview of the basics. If you wish to look into potential assistance, contact your loan officer to ask them questions and then contact your servicer to start the conversation. If you CAN pay your mortgage, PAY your mortgage. It may be detrimental to you now or in the future to negotiate forbearance with your lender.
Read more here.
