Real Estate and COVID-19

A note from the Twin Team: The COVID virus has certainly changed our daily reality as we all have known it to be. Being in the business of housing people, our homes have never more become our refuge – our place of safety and for that I am glad that all of you reading this have a home to stay safe and healthy in.

However, the economic impact is real and everyone is feeling the impact financially with job loss or cut backs like no other time in recent history. We recognize that your mortgage payment is likely the biggest monthly financial obligation you have each month. We have had a lot of clients reach out about the possibility of mortgage forbearance.

For that reason, we have asked one of our very best lender partners, Evan Swanson of Swanson Home Loans at Cherry Creek Mortgage, to give you an understanding of how mortgage forbearance works and facts to know in case you are considering mortgage forbearance.

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The Pitfalls of Mortgage Forbearance

Recently various mortgage institutions announced a new program designed to help struggling homeowners weather the present economic downturn. It allows homeowners who qualify to suspend mortgage payments for up to 12 months and avoid late fees and late payments reported on their credit record. However, the program has pitfalls that homeowners need to be aware of. Please watch this video to learn what consumers should be asking BEFORE they agree to the forbearance program.

Evan is a seasoned veteran in the mortgage industry and he navigated his business through the 2008 recession, always offering unparalleled service and care for his clients. If you should have more questions about mortgage forbearance or refinancing to help you get through this time, we encourage you to reach out to him.

Evan Swanson
Mortgage Professional
CERTIFIED FINANCIAL PLANNER™
NMLS #120856
eswanson@swansonhomeloans.com
Direct: 503.488.1808
9755 SW Barnes Road, Suite 470
Portland, OR 97225