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What is Mortgage Forbearance

Are you struggling to make your mortgage payments due to financial hardship caused by the COVID-19 pandemic or other circumstances? If so, you may be wondering what options are available to you. One option to consider is mortgage forbearance.

 

Mortgage forbearance is a temporary solution that allows homeowners to temporarily stop or reduce their mortgage payments. This option is typically offered to homeowners who are experiencing a temporary financial hardship, such as a loss of income or unexpected expenses. It is important to note that mortgage forbearance is not a long-term solution, and homeowners will need to eventually catch up on their missed payments. However, it can provide much-needed relief in the short term.

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