Homeowner Expected Relief From a Mortgage Deferral, Instead Got a Bill for $4,700: 'I About Fell Over' – NBC New York
About 3.9 million U.S. homeowners are currently in forbearance, according to the latest estimates from the Mortgage Bankers Association. Forbearance programs generally imply that homeowners can suspend mortgage payments for a time and then repay the outstanding balance in a lump sum when they resume their normal bill cycle. Deferment programs typically allow homeowners to push payment of any missed payments to the end of the mortgage period. In March, in response to the coronavirus pandemic, the federal government and many financial institutions launched mortgage relief programs. But five m...
Source: nbcnewyork.com