Forbearance ?

Hey everybody, it’s Ken at the Capitol Mortgage Group. You know, a lot of people right now are looking into a forbearance for their mortgage payment. So a couple of things to consider before you stop making your mortgage payment. First and foremost, call your servicer, whoever you make your mortgage payment to every month. Make sure you have their plan in writing, what they’re offering you in writing, before you stop paying. Make sure you understand all your options before you stop paying. I’ve been tracking quite a few clients who have been told they can skip April, May and June, but then when July payment comes due, they owe not only July but April, May and June all at once. And for some, that’s a great option. Give them a couple of months breathing room, they can catch up. For some, it may be financially devastating to have to make four months of mortgage payments all at once. So again, get everything in writing. Know your options before you stop paying your mortgage payment. I’m here to answer any questions you have, anything I can help you with. (804) 362-7600, Capitol Mortgage Group. Thanks.