It’s Not Too Late To Apply For Forbearance

#jennadavishomes #theclosers @realtorjennadavis

If your loan is backed by HUD/FHA, USDA, or VA, you can apply for initial? Forbearance by June 30, 2021. Here are some of the reasons why those borrowers didn’t opt for forbearance before now:

• They were concerned forbearance may be costly
• They didn’t understand how to request forbearance
• They didn’t understand how the plans worked and/or whether they would qualify

If you have similar questions or concerns, the following answers may ease your fears. The Consumer Financial Protection Bureau (CFPB) explains, “For most loans, there will be no additional fees, penalties, or additional interest (beyond scheduled amounts) added to your account, and you do not need to submit additional documentation to qualify. You can simply tell your servicer that you have a pandemic-related financial hardship.” This is how the Consumer Financial Protection Bureau (CFPB) explains the program:

It’s Not Too Late To Apply For Forbearance | Real Estate with Jenna Davis (simplifyingthemarket.com)