With finances in peril due to COVID-19, many homeowners are in search of mortgage relief. Two strategies that many borrowers are anxious to invoke right now are mortgage deferment and mortgage forbearance.
Mortgage deferment and Mortgage forbearance- both tactics allow a borrower to skip monthly payments for a set period. Depending on the lender, there can be subtle differences between the two terms.
This information is from Realtor.com, which helps to clarify these options. Read more here!
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