Homeowners stuck in mortgage forbearance have options to stay put

Realty Check

By Erica Minchella

Erica Crohn Minchella, is the head of the boutique real estate firm of Minchella & Associates, Ltd., handling residential and commercial real estate transactions and litigation such as foreclosure defense, quiet title, and partition actions. erica@ecminchellalaw.com

Posted July 19, 2021 10:27 AM

In March 2020 the federal government required government insured mortgagees (GSEs) to offer forbearances on mortgage payments for borrowers impacted by COVID-19. The programs were to last six months with the right to an extension for an additional six months.The program allowed for borrowers who were escrowing taxes and insurance to include those amounts as well in the forbearance. Borrowers who did not escrow were expected to make those payments. It was unclear what the plan would be for repaying the amounts under …

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