Forbearance Relief
Are you struggling to pay your mortgage ?
Or behind on your payments? Forbearance has been confusing this year and we found many people have Questions. The good news is that you have options for forbearance relief in Altoona Pa. There is help for you! Here are two options: The first is .
The first Forbearance Relief Option
Forbearance as part of The CARES Act
What Is It? The lender (or mortgage servicer) allows you to PAUSE or REDUCE your mortgage payments for a limited time.
How Long Does It Last? The protection & relief program began on March 18, 2020, and it protects you from foreclosure until at least December 31, 2020. The pause in payments (or forbearance) can last up to 180 days. You may also apply for a one time extension of 180 days – for a total of 360 days of forbearance.
How Do You Get Relief/Forbearance in Pa? You need to immediately and directly contact the company that services your mortgage (the one you make payments to). If you have a federally backed loan, you are covered by the CARES Act. If you have a privately held mortgage, you may still qualify.
THIS IS A GREAT MORTGAGE RELIEF PROGRAM!!!
However, as with most programs, there are possible problems.
1. While forbearance will not affect your official credit score, credit checks will show that you are in forbearance
2. Unfortunately, the skipped payments are not forgiven. You will eventually have to make up the missed payments plus pay your current mortgage payment. This will be a hardship for many.
Find out more details from the cfbp
Your second Forbearance Relief Option !
Sell your Home.
- You can list your house with an agent
- Try to sell it yourself
- Sell quickly and easily to us (With Only One Showing and No Fees or Commissions)
To find out how we can help and what we have to offer simply fill out this quick form on the next page and we will contact you to discuss you situation.