Mortgage Forbearance Rate Drops to Lowest Level Since Mid-April

Maurie Backman, The Motley Fool
·3 min read
Mortgage Forbearance Rate Drops to Lowest Level Since Mid-April
Mortgage Forbearance Rate Drops to Lowest Level Since Mid-April

Thankfully, there's some relief available to homeowners -- particularly those who risk falling behind on their mortgage payments. During the pandemic, borrowers can pause home payments for up to 360 days by requesting mortgage forbearance. Forbearance doesn't forgive those payments; borrowers will be required to catch up on them eventually.