Did You Know?
What is the difference between deferment and forbearance?
Deferment: Payments can be moved to back-end of the loan. Usually the best option for you, the borrower.
Forbearance: No payments for a set period of time, but at the end of that time, the total amount comes due (one-time balloon payment).
Contact your bank or mortgage servicer for more information and to determine the the best option for your current financial situation. Do not skip payments before speaking with your loan servicer.
Tina Dahir is a real estate agent in Raleigh, NC. Tina shares best practices + advice you need to know. If you are interested in buying or selling a property, or just need advice, please contact her at tina.dahir@bhhsysu.com or 919-601-3551.