Posted on Nov 12, 2020

Manning & Mouratides, P.C.

Forbearance from your mortgage lender sounds great, right? Well, it unfortunately has hidden consequences. What most people don't know, and what most lenders won't tell you, is that all those payments that were set aside during the forbearance come due in a balloon payment when the forbearance ends. For most families they can't come up with that big balloon payment, especially if they couldn't make their monthly payment before due to job loss, cut hours, etc. So what do you do? Give us a call. The best option for many families is to modify their mortgage loans. Modification can roll those missed payments back into the loan, extend the loan term, lower interest rates, and make the loan more affordable.
https://www.manningandmouratides.com/post/mortgage-forbearance-good-bad-and-sometimes-ugly
Give us a call today. We can help. (219) 865-8376
ManningandMouratides.com
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