There are two options that can occur when banks require you to re-start paying your mortgage payment. The first option, if acted upon, will cripple the housing industry as well as the U.S. Economy. There is talk that banks will require homeowners to repay all of their missed mortgage payments (during COVID-19) over an extended period of time post COVID-19. The catch is these payment will be over and above your original mortgage payment which will cause hardships for many Americans. With … [Read more...] about What Happens When Banks resume Mortgage Payments in following COVID-19
Mortgage Modification
COVID 19 Will Increase Mortgage Modification Applications to New Highs
Due to the COVID-19 pandemic many U.S Borrowers are putting their mortgage payments on hold. In fact delayed payments are already approaching 14% of all loans. "The government’s program, part of the CARES Act, which President Donald Trump signed in late March, allows borrowers to delay up to a year’s worth of payments. Those payments must be made up later through either repayment plans or mortgage modifications. Government-backed loans make up about three-quarters of the current mortgage … [Read more...] about COVID 19 Will Increase Mortgage Modification Applications to New Highs
Struggling with your Monthly Mortgage Payment?
Did you know that nearly TWO MILLION people are behind or late on their monthly mortgage payment in the United States alone?! Nearly 10% of all homeowners are still fearful that they may face foreclosure in the next year! That’s right, nearly one in every ten homeowners are fearful of a foreclosure of their family home. Are you one of these folks who are struggling make your monthly mortgage payment? Do you constantly worry how you will continue to support your family? Are you behind on … [Read more...] about Struggling with your Monthly Mortgage Payment?
