While you’re sitting around and wondering what to do….take a few hours now to get on the phone with your creditors and let them know you won’t be making mortgage or other debt payments during the next several months. Servicers are being DIRECTED AND ORDERED to institute Debt Forbearance programs, but you need to be proactive and formally get into these programs NOW in order to be fully protected.
COVID Mortgage Relief
You can expect very long hold times ALREADY from the crush of people that are already applying for such programs…and of course these delays are only going to get much, much worse. So get ahead of the curve now….preserve your remaining cash for what really matters.
Here’s a really great radio story that describes some of the conditions for mortgage forbearance relief: