AZ Forbearance Update (video) 12/30/2020

The biggest news in forbearance is FHA’s extension for entering a forbearance plan. If a borrower has an FHA loan they can now call their servicer through February 28, 2021 to get started on a forbearance plan. For all other mortgage types, the deadline is tomorrow, 12/31/2020.

AZ Forbearance Update (video) 12/23/2020

In this 13 minute video, Lydia Wietsma and I discuss the most recent five things you need to know about forbearance. The majority of borrowers leaving forbearance are current upon plan exit, only 13% of borrowers leaving their forbearance plan do so without having a loss mitigation plan in place. There is not much time left if someone needs to take advantage of these CARES Act benefits.

AZ Forbearance Update (video) 12/16/2020

In this 13 minute video, Lydia Wietsma and I discuss the most recent five things you need to know about forbearance. The majority of borrowers leaving forbearance are current upon plan exit. There is not much time left if someone needs to take advantage of these CARES Act benefits. We do these updates to helpContinue reading “AZ Forbearance Update (video) 12/16/2020”

AZ Forbearance Update (video) 12/9/2020

We have talked about 3 weeks creates a trend. Well, after two weeks in a row of slight forbearance count increases, we were closely watching the numbers. And this past week, they remained flat, unchanged at 5.54% of loans and roughly 2.8 million loans in a forbearance plan.

AZ Forbearance Update (Video)

In this 11 minute video, Lydia Wietsma and I discuss the four things you need to know about mortgage forbearance. The bottom line is that borrowers have options but they have to take action NOW as the COVID forbearance options are expiring in 21 business days. Watch the full video for details.

AZ Forbearance Update (Video) 11/25/2020

In this 11 minute video, Lydia Wietsma and I discuss the latest news in forbearance and emerging trends. The bottom line is that people have options but they have to take action NOW as the COVID forbearance options are expiring in 5 weeks. Watch the full video for details.

AZ Forbearance Update (Video) 10/28/2020

One reason given for the 400,000 borrowers exiting forbearance plans over the past three weeks is because borrowers do not know they can stay on or further negotiate their plans. If borrowers do not contact their lenders or servicers they are automatically removed from their forbearance plan. This is a big deal.

AZ Forbearance Update (Video) 10/21/2020

In this 13 minute video, Lydia Wietsma and I discuss the latest news in forbearance and emerging trends and where borrowers can go for help. We have some suggestions for conversations with clients and borrowers. The bottom line is that people have options but they have to take action, watch the full video for details.

AZ Forbearance Update (Video) 10/7/2020

The worst thing for the housing market is to have empty houses. We went through that 10 years ago. This time around with the forbearance programs, they were designed to keep homeowners in their homes, which keeps the housing market healthy.

AZ Forbearance Update (Video) 9/30/2020

Lydia Wietsma and I discuss the latest news in forbearance trends and where borrowers can go for help. Freddie Mac shared some interesting info this week! Today’s Takeaways: Unemployment: The national unemployment rate is 8.4%. Weekly initial claims have dropped below 1 million but remain high. Our continuing unemployment has dropped below 13 million. SomeContinue reading “AZ Forbearance Update (Video) 9/30/2020”