The pros and cons of mortgage forbearance (2 of 3)
If you haven’t watched the first video in this series, you can view it here:
Now that you know what mortgage forbearance is and have a general idea of how it works, it’s time to decide if it’s the right choice for you. In order to do that, you need to know the pros and cons of going into mortgage forbearance.
In this video, Eric covers the benefits and risks of mortgage forbearance in great detail. His talking points include things like avoiding late fees and foreclosure (pros) and the possibility for greater financial hardship down the road (con).
In addition, he also explores other relief options you might want to try before going down the forbearance route. These include refinancing your home, the “Hardest Hit Fund” for those in approved states (get more info here: and other more local programs that may be available through either your state or county.
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This video is not intended for residents or homeowners in the states of WA, NY or MA.
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