PROPERTY OWNERS... Have You Fallen Behind on Your Mortgage Payments?
By Winston Heverly, GRI, ABR, SFR, CDPE, CIAS, PA
(Winston Realty, Inc.)
PROPERTY OWNERS... Have You Fallen Behind on Your Mortgage Payments?If you would like to stay in your home and have fallen behind on payments due to a short-term financial setback such as an unexpected expense or a temporary loss of income: A Forbearance allows you to suspend payments for a specified time period. At the specified period, the missed payments are either repaid in full or added on as an extension to the term of the loan. A Repayment Plan is similar to forbearance, although the past-due loan amount is spread out over a specified time frame, increasing the existing mortgage payment until the mortgage is brought back up to date. If you would like to stay in your home and have fallen behind on payments due to a long-term financial setback such as a job loss or ...
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