Foreclosure and Loan Modification Blog

What Happens When My COVID19 Mortgage Forbearance is Over?

If you have secured a COVID-19 mortgage forbearance that works for you and your family this can be a great help. However, it is important to discuss with your mortgage servicer how they will be handling your past due payments at the end of the forbearance. 30 days before the forbearance ends you should assess your situation with your mortgage servicer to determine your next steps. Some servicers are requiring borrowers to make one large balloon payment when the forbearance ends, which is the worst case scenario for many homeowners. Other options are:

reinstatement
repayment plan
payment deferral
loan modification
refinancing

What is a Mortgage Servicer?

When you pay a mortgage on your home every month, it can sometimes seem like there are so many entities involved in the transaction. One entity you consistently keep hearing from is your mortgage servicer. What exactly does your mortgage servicer do?

[fa icon="clock-o"] Friday, August 7, 2020 [fa icon="user"] Jordan Shealy [fa icon="folder-open'] mortgage, mortgage servicers, mortgage servicing, normal servicing

The movie “The Big Short” was released over the holiday season to large audiences and critical acclaim. It tells the true story of some colorful traders and hedge fund managers who believed that the market in mortgage debt was set to collapse and of their quest to profit from it.

[fa icon="clock-o"] Tuesday, February 2, 2016 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] foreclosure, mortgage, the big short

If you can afford to pay off your mortgage early, should you?

[fa icon="clock-o"] Friday, January 15, 2016 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] loan modification, mortgage

Your lender has been watching you all year, and knows if you've been naughty or nice. But if you make their naughty list by not paying your mortgage, they don't come down your chimney and leave you a stocking full of coal. They'll do something much worse and take your home, chimney and all. Unlike Santa Claus' naughty and nice lists, you should know for sure which one you are on. What is harder than knowing is getting off of the naughty and onto the nice list so you can stay in your home.

Your mortgage lender has a very simple rule for determining whether you're naughty or nice. It's determined by whether or not you pay your mortgage on time every month. If you pay on time, you get to be on the nice list. Keep up the good work. What's your reward? Keeping your home, and not being threatened with the 'f' word. That's not the four letter 'f' word, it's the one with 11 letters: foreclosure.

[fa icon="clock-o"] Friday, December 18, 2015 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] stop foreclosure, loan modification, foreclosure defense, loan modification help, foreclosure, mortgage

Foreclosure and Loan Modification Blog

What Happens When My COVID19 Mortgage Forbearance is Over?

What is a Mortgage Servicer?

“The Big Short” Explains Foreclosure Crisis With Humor

Should You Pay Off Your Mortgage Early?

How To Get Off Your Lender's Naughty List

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