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    How to Use Forbearance?
    How to Use Forbearance?
    How to Use Forbearance?
    Ebook43 pages12 minutes

    How to Use Forbearance?

    By Gary boykin jr

    ()

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    About this ebook

    This book is about educating homeowners or anyone becoming an homeowner to help them understand the importance of forbearance and the necessary steps to take when faced with financial hardship. Very comprehensive and informational guide on how to prevent foreclosure and protect your assets.

    LanguageEnglish
    PublisherGary boykin jr
    Release dateJun 7, 2024
    ISBN9798224117628
    How to Use Forbearance?

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      Book preview

      How to Use Forbearance? - Gary boykin jr

      -HOW TO REQUEST FORBEARANCE FROM YOUR MORTGAGE SERVICER?

      -DOCUMENTS AND INFORMATION NEEDED FOR THE APPLICATION.

      -COMMON REASONS WHY FORBEARANCE REQUESTS MAY BE DENIED.

      5.MANAGING FORBEARANCE:

      -WHAT HAPPENS DURING THE FORBEARANCE PERIOD?

      -HOW TO COMMUNICATE WITH YOUR MORTGAGE SERVICER DURING FORBEARANCE?

      -OPTIONS FOR REPAYMENT AFTER FORBEARANCE ENDS.

      -HOW FORBEARANCE MAY AFFECT CREDIT SCORES AND FUTURE MORTGAGE APPLICATIONS?

      6.ALTERNATIVES TO FORBEARANCE:

      -OTHER MORTGAGE RELIEF OPTIONS AVAILABLE TO HOMEOWNER.

      -PROS AND CONS OF EACH ALTERNATIVE HOW TO DETERMINE THE BEST OPTION FOR YOUR SPECIFIC FINANCIAL SITUATION.

      7.CONSEQUENCES OF HOMEOWNERSHIP:

      -FORECLOSURE.

      -LOSS OF EQUITY.

      -CREDIT DAMAGE.

      -LEGAL CONSEQUENCES.

      -EMOTIONAL STRESS.

      -HOUSING INSTABILITY.

      -DIFFICULTY OBTAINING FUTURE FINANCING.

      8.THE EFFECTS OF FORECLOSURE:

      -WHAT IS FORECLOSURE?

      -MISSED PAYMENTS.

      -NOTICE OF DEFAULT.

      -PRE-FORECLOSURE PERIOD.

      -FORECLOSURE AUCTION.

      -POST-FORECLOSURE PERIOD.

      -R.E.O PROPERTY.

      -DEFICIENCY JUDGMENT.

      9.CONCLUSION:RECAP

      -KEY POINTS ABOUT FORBEARANCE.

      -TIPS FOR HOMEOWNERS GOING THROUGH FINANCIAL HARDSHIP.

      -RESOURCES FOR FURTHER ASSISTANCE AND INFORMATION.

      1.INTRODUCTION

      WELCOME, WHO EVER SAID BEING AN ADULT WAS EASY LIED BECAUSE ADULTING IS HARD FOR MOST OF US IF NOT

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