WASHINGTON – The Consumer Financial Protection Bureau has released a video on how struggling homeowners can obtain mortgage forbearance if their finances are impacted due to the COVID-19 pandemic.
The video shares things consumers need to know about mortgage forbearance under the CARES Act. It describes what forbearance is, emphasizes that it does not erase debt, and then outlines what types of forbearance is available.
The video also clearly details how forbearance works for federally backed mortgages. The video can be found here.