New Everything You Need to Know About Mortgage Loan Forbearance



Everything You Need to Know About Mortgage Loan Forbearance // The mortgage forbearance program can be very confusing because there has been a lot of changes since it was introduced thanks to the CARES Act. In this video, I share all the details about forbearance including will this affect your credit, who qualifies for forbearance, how to pay back your missed mortgage payments and much more. Some say loan forbearances have helped avoid a foreclosure and eviction crisis.

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Options after Mortgage Loan Forbearances Ends
https://youtu.be/RPvmn4mF7O0

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Search tools to see if your mortgage loan is backed by Fannie or Freddie:
To see if your loan is owned by Fannie Mae:
https://www.knowyouroptions.com/loanlookup

To see if your loan is owned by Freddie Mac
https://ww3.freddiemac.com/loanlookup/

Comment below: what’s your housing housing market forecast 2021? Do you think a housing crash 2021 will happen and there will be a housing crash or do you think the housing market 2021 will continue to surge?

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Jason Walter, CPA (lic 103885)
Sacramento Realtor/Sacramento real estate agent and native
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[email protected]
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More of My YouTube Videos:

Why Aren’t Home Prices Dropping? Housing Market 2020
https://youtu.be/_n4P7eUzQlM

BEWARE – Why I Cancelled My Mortgage Loan Forbearance Offer
https://youtu.be/7ovaZw9m60c

Mortgage Loan Forbearance Update (5 MAJOR CONS of Mortgage Loan Forbearance & More):
https://youtu.be/eGiOLh-Ly40

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Disclaimer:
Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video – it is for entertainment purposes only.

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#housingmarket #loanforbearance #forbearance

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21 comments

  1. Jason Walter

    To never miss a video about real estate and personal finance topics, subscribe to my channel & then hit the bell to be notified when I post a new video HERE ➜ https://bit.ly/31kAR73

    Webull free stock promotion ➜ https://act.webull.com/kol-us/share.html?hl=en&inviteCode=cKJC65AjvHMM

    Products I use and like: #ad
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    Virtual Assistants https://bit.ly/3lYRujQ
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    Get 50% off Housingwire + (HW+) by using the coupon code: Jason50%off at HousingWire.com

    More of my videos:
    My #1 video on Youtube: Why Aren’t Home Prices Dropping? Housing Market 2020: https://youtu.be/_n4P7eUzQlM

    BEWARE – Why I Cancelled My Mortgage Loan Forbearance Offer: https://youtu.be/7ovaZw9m60c

    Mortgage Loan Forbearance Update (5 MAJOR CONS of Mortgage Loan Forbearance & More): https://youtu.be/eGiOLh-Ly40

    Options after Mortgage Loan Forbearances Ends
    https://youtu.be/RPvmn4mF7O0

    PLAYLIST: Videos about Living in Sacramento
    https://bit.ly/2TkXZSh

  2. Does taking forbearance affect my loan interest rate ?

  3. How about VA loans? Is it too late to enter?

  4. I just got a forbearance for my FHA loan this month, April. How long can I be on it from this point? 6 months, then extend another 6…so till April 2022? Just want to make sure I'm understanding correctly.

  5. Phil Coronado

    Millions of people May loose their homes just like back in Bush era. Sad sad sad

  6. Renee Wiggins

    Can you address the tax filing issues that can be affected since the person (s) aren't paying taxes or interest for that period of forebearance.

  7. Beverly Monroe

    Do we get 12 months or 15 months?

  8. Marty Epstein

    What do I do if I don’t have any income when my forebearance ends?

  9. Juan Dela Cruz

    Can you apply for forbearance right after you purchase your house?

  10. Jason, What can i expect to pay at closing cost for a $480k house in roseville?

  11. We took forbearance for three months and sold our house. The interest will be insane, plus principal will make your own house super expensive to afford when this ends. People should take advantage of this program but know what you are getting your self into.

  12. Cesar Polanco

    Great advice the only thing many videos don’t talk about is the fact that most mortgage payments have your insurance and county taxes included into the mortgage payment, which those payments are not being waived during this period. Which will need to be paid I order for those accounts to be up to par. We have to remember every year mortgage companies recalculate to ensure the escrow account will have enough money for those two payments to be made. During this period the account has been depleted. Yes mortgage payments can be deferred but what about the insurance and taxes those will have to be modified into, when you resume back. That’s the question which is not being answered.

  13. Hey 👋 Tas here.

  14. Puneet Bhandari

    Thank you . That was a lot of valuable info

  15. Forbearance for the next 30 years

  16. Michael Doddington

    The extended forbearance window is only going to keep driving up home prices. I am shocked at how low inventory is right now. I want to purchase another rental but its not easy in my area.

  17. Thank you for your hard work!👏👏👏👏👏

  18. Nancy Hepner

    Thank you for the great content.

  19. Can they accept partial payments under an FHA? I am several months behind beginning last July because of COVID19. The servicer told me I needed to make half my payments, I was ready to send it in, but it took a couple months (401k withdrawal) so the half-payments increased and I didn’t have it. Then they told me in January I needed to send in a lump sum of all the missed payments (by this time, 7 – $9,800) to qualify for forebearance under Covid. The servicer is Selene Finance. I don’t know what to think! What should I do? They seem to be misinformed as to what they are telling the customers. How can I complain about them?

  20. great video jason , very informative

  21. Manny Bermudez

    Great info as always Jason!

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