Mortgage Deferral, What You Need To Know | If you're considering mortgage payment deferment (also called mortgage forbearance), there are some mortgage deferral pros and cons you need to understand before making the decision. As we approach the mortgage deferral cliff, it's important you do not defer your mortgage payment unless you absolutely have to, because it can have unexpected consequences!
In this video I talk about what mortgage deferral is, the types of forbearance options lenders provide, the potential effects of accepting one, and the things you need to do to protect yourself when securing a forbearance.
0:00 Introduction
1:12 Mortgage deferrals
2:22 If you can avoid a deferment please do so
4:49 Monitor your credit
5:08 Get it in writing and read it carefully
7:53 Watch more
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With 18+ years of experience as a loan officer, Stephanie Weeks founder of The Weeks Team and has ranked among the top 1% loan officers in the nation several years running.
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