AZ Forbearance Update 2/17/2021

We do these videos to share the real information with real estate professionals and consumers about what is going on in this sector of real estate. There is a lot of fear behind forbearance and the moratoriums, and bad advice being given. While there is no reason to panic, it is important to be informed.

AZ Forbearance Update 1/13/2021

Of the cumulative forbearance exits for the period from June 1 through December 27, 2020 about 45% are current and 13.2% left with no loss mitigation plan in place. The others either sold, deed in lieu, loan modification, etc. It is the 13.2% of borrowers that are the ones who need extra guidance.

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.