CARES Act Forbearance Information
The Coronavirus Aid, Relief and Economic Security Act (‘CARES Act’) signed by President Trump on March 27, 2020 contained many provisions; one of the provisions is designed to help homeowners with a mortgage who are experiencing a financial hardship request a forbearance for their home loan (mortgage) payments.
Caveat is, the homeowner(s) must affirm that, due to COVID-19, they are experiencing financial hardships. For some it may be loss of a job(s), for others it may be a sickness, caring for a family member who is sick, or a substantial decrease in ones income.
Read more at Guaranteed Rate Affinity – and thanks goes out to Guaranteed Rate Affinity and Cindy Kramer, our Coldwell Banker Realty Newport Beach lending officer – for providing the information and support. Cindy can be reached at (949) 221-8283.
For questions about the real estate market, Bruce Clark can be reached at 949-285-1207.