When the COVID-19 pandemic ends, what should you do about your mortgage situation? Should you wait for the pandemic to end or take action now? Has your income reduced and are you struggling to make your home, mortgage payments?
Two members of Montgomery County’s Advisory Committee on Consumer Protection will provide broad overviews of opportunities and information for people to consider their personal mortgage and homeowner options and these questions. These broad topics include:
When should you consider refinancing your mortgage and why?
What are the down-sides of a refinance?
If your servicer offers you the opportunity to apply for a modification, deferment, or forbearance, should you consider it? If you enter into any one of these options, what are the potential consequences for you in the short- and long-term?
If you are being threatened with foreclosure, what are your options? Who should you trust or not trust to help you?
In addition to these, the Panel will also address your questions and try, whenever possible, to provide suggestions and also direct you to bona fide professionals who may be able to address specific issues (and in many cases for free).