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Originally Posted by Randall55

I am not up to date with forbearance. Are many skipping payments? Is it costing more money in the long run?

A forbearance and a deferment are basically two types of relief for mortgages

The forbearance program is an agreement between the homeowner and lender to temporarily pause or reduce mortgage payments. Any missed payments are required to be repaid once the forbearance period ends. All extensions are now used up. Home sales have been affected when title companies have attempted to close for a sale of a pre owned home.

The deferment is different. A borrower basically just paused on payments and started back up at a later date. The close of the loan was just extended.to a new date.

Just be aware, it exists and it will soon become more than relevant. For some reason California and Nevada are just starting to feel these effects before other states. I’m not sure why. Title companies report problems. Commercial is a larger issue than residential.