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February 5, 2021 12:47 PM Natalie Campisi - Forbes Advisor
Posted:
Updated:
February 8, 2021 5:32 AM
Millions of homeowners opted into mortgage forbearance under the Coronavirus Aid, Relief, and Economic Security (CARES) Act when the pandemic sideswiped the country. The first round of forbearance plans is about to expire in March.
With no additional forbearance extension on the horizon for those who have exhausted both the initial 180-day forbearance period and the 180-day extension, some homeowners might be wondering what’s next, especially if they’re still facing hardship.
If you either can’t afford your mortgage or can’t afford your regular mortgage payment and the extra forbearance payments, it’s important to come up with a plan before the expiration day arrives.