Forbearance vs. Loan Modification

Debbie Warford
Debbie Warford
Published on June 2, 2020

Okay, the term “forbearance” has entered into our everyday real estate lingo. As unemployment numbers rise and unemployment claims are filed, it’s very possible a homeowner will have difficulty paying the mortgage. For most, unemployment compensation is not enough to sustain someone for very long. It’s not supposed to. It’s there to help offset a financial loss up until the point where the homeowner goes back to work.

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