Mortgage Forbearance Explained

This video explains that Mortgage Forbearance is part of the CARES Act of 3/28/2020 that allows those with government loans to suspend mortgage payments for up to 1 year. I asked my good friends Jim and Stacy Brebner to do this video to explain Mortgage Forbearance and when is a good time to take advantage of it. With rates so great, you may want to refinance, but it would not be possible if you have already started the forbearance process. Activating Forbearance does not affect your credit score but the Forbearance is still on your credit report and will make it hard to buy a new home, refinance to lower your mortgage rate or to get cash out for at least 1 year. For more info contact The Brebner Team at 253-576-7968 or brebnerteam@apmortgage.com.