From Forbearance to Foreclosure? A Real Home and Business Owner Podcast
It seems like right after we learned the word “pandemic,” we heard the word, “forbearance.” It means not having to make your mortgage payment for some period of time. But, forbearance is not forgiveness. At some point the money has to be paid back. The question for millions of Americans today is: How?
It’s become clear that no one knows the answer to that question… exactly. If your loan is owned by Fannie Mae or Freddie Mac, it appears that the amounts can be added to the back of your loan. But, if your loan isn’t Fannie or Freddie… we just don’t know the answer yet… but we will soon.
Below is the link to my latest podcast. It features an interview with a REAL HOME and BUSINESS OWNER from the Bay Area. He’s had a successful business for 28 years… until Covid-19 hot us like so many tons of bricks… and his mortgage servicer offered him a forbearance.
Click PLAY below to hear what he and his wife are going through…