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Forbearance Lien! Deferral means a new lien on your property. Loan Modification is a better option.

Did you know that when you ask for a deferral at the end of the forbearance the bank will place a lien on our property for the money you owe? End of forbearance - Ask the bank to extend you mortgage by the months that you owe. Try to avoid a forbearance deferral. Know your forbearance pros and cons. Avoid foreclosure with a loan modification instead of a deferral. You should apply for a loan modification while you are in forbearance to try get a lower payment. Attorney Diego G. Mendez Esq. gives his take on loan modifications, forbearance, and foreclosure avoidance.

00:00 Intro
01:17 Deferral
02:08 Mortgage Extension
04:03 Loan Modification
06:57 Closing

https://www.mendezlawoffices.com
Diego G. Mendez, Esq
debt.law@mendezlawoffices.com
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