Think twice before delaying your mortgage payments! While many people are currently facing financial hardships, mortgage forbearance (delaying mortgage payments) can have costly consequences. Remember that debt forbearance is not debt forgiveness. Some lenders may work with you to restructure the terms of the loan or add delayed payments to the end of the loan, but some lenders will demand lump sum payments at the end of the forbearance period.
To learn more, please read CNN’s timely and informative article “Why you should think twice about delaying your mortgage payments,” https://amp-cnn-com.cdn.ampproject.org/c/s/amp.cnn.com/cnn/2020/04/13/success/mortgage-forbearance-coronavirus/index.html