Already in Foreclosure? Try a forbearance agreement first

Posted on May 5, 2009 by Wendy Koch

 If you can find the funds to pay your arrears, but just need more time, then a forbearance is the way to go.  Working with your lender’s loss mitigation or foreclosure department to request a six-month forbearance can lower your monthly payments temporarily, allowing you more time to find the funds to bring your loan current. 

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