Contemporary Colonial Luxury Home in Poughkeepsie, New York by Toni Anne Perry, Licensed RE Salesperson, Alexander Maxwell Realty Photography by Maxwell Alexander, Duncan Avenue Group

Forbearance, Foreclosure and Home Selling in 2021 – Real Estate 101 with Toni Ann Perry

First and foremost, before forbearance or foreclosure – talk to your lending institution!  An open dialog with your lender may quell many problems before they happen; they are not there to scold or judge, just to help. What is mortgage forbearance?  The simplified answer, according to consumerfinance.gov: forbearance is when your mortgage servicer or lender allows you to temporarily pay your mortgage at a lower payment or pause paying your mortgage. You will have to pay the payment reduction or the paused payments back later. Forbearance is an option if you have a temporary situation that will be resolved over […]