Throughout the pandemic, millions of homeowners utilized the mortgage forbearance options provided by the CARES Act and other pandemic relief legislation. However, forbearance is not forgiveness, and many of those 6, 12, and 18-month forbearances are coming due this fall. This leads to the question:
It's so important that you know your options. For details of repayment options, talk with your mortgage provider/servicer.
If balloon payments, higher payments, and extending your current mortgage don't sound like appealing options, remember: You have the freedom of another option. An option that frees you of the fees, interest, and extending your current mortgage.
During the pandemic, the value of your home likely skyrocketed. This…