Browsed by
Tag: coronavirus assistance

Forbearance During Coronavirus Might Prevent You From Getting a New Mortgage or Refinance Loan

Forbearance During Coronavirus Might Prevent You From Getting a New Mortgage or Refinance Loan

Under the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act, homeowners with federally backed mortgage loans who’ve been affected by COVID-19, regardless of delinquency status, can get a forbearance. Also, even if you don’t have a federally backed mortgage loan, your lender might agree to a forbearance plan. Under the CARES Act, any loan that’s in forbearance must be reported as “current” on credit reports, so long as the borrower wasn’t already delinquent on payments at the time of…

Read More Read More