More homeowners are in search of mortgage relief due to the COVID-19 pandemic, and options like mortgage deferment and mortgage forbearance are becoming readily available to those in need.
April 7, 2020
The Difference Between Mortgage Deferment and Forbearance
Mortgage deferment and mortgage forbearance allow borrowers to temporarily stop making their monthly payments, but they differ in what happens afterwards. At the end of a forbearance period, the amount of payments missed are due in a lump sum. However, lenders may choose to work with borrowers to structure a payment plan.
Read full story: https://magazine.realtor/daily-news/2020/04/07/the-difference-between-mortgage-deferment-and-forbearance
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Luchian Bercea, REALTOR®
Dale Sorensen Real Estate
THE RIGHT MOVE
990 US Highway 1 | Sebastian, FL 32958
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