I know that amid all the stress of uncertainty during this time, a lot of people are wondering: What’s happening with the economy?
3.28 million people filed for unemployment claims over the past week. That’s a huge number, but it’s not all bad news. Mortgage servicers like Bank of America and Chase are allowing people to defer their mortgage payments. It’s set up now as a forbearance, which means if you don’t make your payments within the next 90 days it will be added to the backend of your mortgage which you’ll make up over the next 12 months. Some clients have taken advantage of this, while others are refinancing. If you choose to refinance, there are a number of different resources and options for you. If you have any questions regarding your mortgage, let me know and I can reach out to our accountants and lenders that we trust. I’m here to help if you need anything.