What is Mortgage Forbearance? Mortgage forbearance is not an uncommon arrangement between a loan servicer and their borrower, in which the borrower is granted a brief payment deferral, getting mortgage relief to overcome a temporary hardship. When the mortgage payment act of 2020 passed, officially known as the CARES Act, this allowed millions of homeowners to defer mortgage payments, immediately getting the mortgage relief they needed. Thanks to this mortgage… Read More
How Does Credit Affect Your Loan?
A person’s credit score can say a lot about them. The number is based on a person’s creditworthiness. A credit score is a good way for lenders to determine how likely a borrower is to pay back their loan. Credit scores are a useful screening tool for credit card companies, banks and mortgage lenders. All prospective home buyers are subject to credit checks to qualify for home loans. For Veterans… Read More