What Happens After Covid Forbearance?
Options Available To Assist You
After two years of dealing with the pandemic and setting up forbearance plans, many homeowners will be looking for solutions to get back on track.
Did you lose your Job during COVID-19? Did you need to relocate or change careers and your income has changed? I want to go over some of the options available and give you some industry insight. It is expected within the next several months there will be a lot of forbearance plans due to COVID-19 relief programs will soon expire. Depending what your current situation with your home will depend on the path taken.
Here Are Possible Solutions To Avoid Foreclosure
(large sum payment)
(pay more monthly till caught up)
(puts a lien separate amount to be paid later)
(Avoids Foreclosure proceedings by giving the property back to the bank)
(Readjust loan with past due balance back into the mortgage)
(usually by selling the property)
(Take less than what is owed to settle the debt)
(Last step to go through the court process to take possession of property)