What do you do when you move away in process of buying a home during a worldwide pandemic, finding yourself in a hotel which you can't leave? Benchmark never quits.
We previously talked about Forbearance as an option for anyone negatively impacted because of COVID-19. Forbearance is one of the most common options for those who cannot make their mortgage payments on time. Typically, once a loan is out of the agreed timeframe of forbearance, the borrower is expected to pay a “balloon payment,” or …
In a mortgage forbearance agreement, the lender agrees not to foreclose on a mortgage, and the borrower agrees to a plan that will result in a temporary adjustment to provide relief, and to pay the balance to be current with the original payment plan.
In light of COVID-19, we decided to do all we could to help those most affected by sending meals from local restaurants to our friends and family on the front line.