There’s no such thing

as “skipping”

mortgage payments.

Let’s set the record straight.

The recently announced mortgage payment relief through the CARES Act provides mortgage forbearance ONLY for those who have lost a job or are suffering financial hardship due to the coronavirus pandemic and whose loan is federally owned or backed by a federal agency.

You MUST reach out using the contact information on your loan statement to determine what help may be available. It’s vital that you discuss the options based on your situation. If assistance is available, be sure to get your agreement in writing.


Please Remenber:



Geometric Objects


Pampas Flower


Desert Road



A forbearance is not a holiday. A forbearance allows you to pause or reduce your payments for a limited time. Deferred payments may be due in full at the end of the forbearance period. Sometimes, these payments may be stretched over a short time period or perhaps added to the end of your loan term.

If you have an escrow account, deferring payments will mean you will also have to make up the shortage as part of your repayment plan.

The CARES Act intends to prevent negative impacts to your credit if you undertake a forbearance for your government-backed loan. However, changes to reporting between servicers and credit agencies may not occur seamlessly. If you do pursue a forbearance, you will need to monitor your credit report to catch and report any errors.

Think it through. A forbearance is not forgiveness. It does not eliminate payments; it only delays them. If you have emergency savings, available lines of credit or other means to pay, these may be better options to get you through these difficult times. 


We cannot help you with forbearance arrangements directly, but we’re here for you if have questions or would like further guidance. Reach out if you need us.