MORTGAGE
Forbearance – Your Mortgage on Pause or in SloMo Understand what it does, what it doesn’t do and how it can impact now and the future. W r i t t e n B y: E r i c H o o l i h a n
Y
ou may have heard from your lender, or read online, about offers to place your mortgage into forbearance. Forbearance is when your mortgage servicer (the company that sends your mortgage statement and manages your loan) or lender allows you to pause or reduce your payments for a limited period of time. This can be an attractive option when you are facing income or job loss, but there are some important caveats to be aware of when you embark on this path.
32 | Aero Crew News
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