We recognize there is a lot of information posted on the Internet and in the media regarding how to pay your mortgage during the COVID-19 pandemic. As your trusted mortgage broker, we want you to have the best information available. One topic that is particularly hot right now is forbearance.

First of all, it’s important to note that forbearance does not mean the payments are not due. The mortgage payments are simply suspended temporarily. They will be due at the end of the forbearance period. Customers that are not impacted should continue to make their mortgage payments on time to maintain their credit bureau scores.

Every homeowner’s situation and lender is a little different regarding forbearance and COVID-19.  If you aren’t exactly sure what your options are, contact your current lender to see if you qualify and if it’s the right solution for their specific need. Or, feel free to reach out to Scott Bennett at 503-703-4699 or scott@altmo.com if you have any questions or to talk about your current situation.