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How to Get Mortgage Forbearance for 12 Months | Step by Step

151,684 views August 14, 2020 25:06

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ChannelMeet Kevin

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Steps to get Mortgage forbearance. 🚨Use Coupon Code ⚽LARRY⚽ Investing & Negotiating Program: metkevin.com/program 🦠Life Insurance: metkevin.com/ladder ⚠️Youtube Course: metkevin.com/youtube

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⚠️#Forbearance #Guide #MortgageForbearance ⚠️

How long can I take mortgage forbearance? You can request 180-days of mortgage forbearance and a 180-day extension if you have a federally-backed or GSE-backed mortgage, like a conventional loan, Fannie Mae, Freddie Mac, FHA, VA, or USA.

Do you have to take a loan modification after mortgage forbearance? No! Be careful! Do not sign such an agreement! Proceed carefully!

Do you have to take a special forbearance plan? No! Do not sign! Proceed carefully!

What are the steps to take mortgage forbearance. Affirm a direct or indirect financial hardship and request 180-days of forbearance, then extend for another 180 days.

What is the deadline to apply for mortgage forbearance? 120 days after the termination of the national emergency related to Covid-19.

Will my missed payments be deferred? It depends, quite possibly yes! Your payments should NOT be due at the end of the forbearance period.

CARES Act Bill: govinfo.gov/content/pkg/BILLS-116hr748enr/pdf/B…

Consumer Financial Protection Bureau
LINK ONE (ALL Forbearance Options by Type): consumerfinance.gov/coronavirus/mortgage-and-ho…
Follow their Links

00:00 Should I Take Mortgage Forbearance?
02:00 The ONLY Requirement to take Forbearance.
03:25 The Law Banks MUST Follow.
08:50 Why should you NOT take Forbearance?
10:00 Step #1: Getting Mortgage Forbearance.
12:50 Step #2: Terms for your Loan (Fannie, Freddie, FHA, VA, USDA).
18:39 Step #3: Request 180-Day Forbearance and Submit Affirmation.
19:20 Step #4: Credit Score Impact of Mortgage Forbearance.
21:25 How Banks try to SCAM You with Special Forbearance

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About this tutorial

Meet Kevin published this 25:06 video tutorial on August 14, 2020. It has been watched 151,684 times on YouTube.

Channel
Meet Kevin
Category
Education
Duration
25:06
Published
August 14, 2020
Views
151,684
Likes
5,124

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