Are you financially stressed right now? What to know about options, from debt negotiation to bankruptcy

This short video from the Consumer Financial Protection Bureau “CFPB” is actually very informative and goes over the various options for homeowners who have received a forbearance. If the homeowner is not in Chapter 13, contacting their servicer or discussing their options with a HUD approved counselor is their best course of action. If the homeowner is in Chapter 13, they need to contact their attorney (you) for advice.

This video (click here) explains basic options dealing with your mortgage, paying back missed payments once a forbearance end.  Remember that it is very important to know what type of mortgage loan you have because each type (federal, conventional or private) have different processes or options or no options at all.


homeowner

How to help homeowners protect their homes (from CFPB) 11/10/20

MUSINGS BY DIANE:

knowledgeMy favorite client, or prospective client, is someone who wants to learn as much as possible about their situation, so they can make informed decisions. Finances are confusing and everyone needs to take time to determine the best way to find a solution that works in the long run, not just today. Never rely on the Internet for advice – there is more bad advice than good. Always seek advice from at least two people or resources who are experienced in the area you need help. Know both the pros and cons of your options.  Once armed with good information, then use your common sense to decide what is best for you.

– Diane L. Drain
Click here for steps to your free bankruptcy consultation