I hope all is well upon viewing this message.

I’ve been asked by a few people the simple way to get mortgage relief if affected by the change in our system during the coronavirus.

Here is a 3-step plan to get you started with additional info.

Step 1. Contact your mortgage provider from the number on your statement or website once signed in.

Step 2. Be patient as their system is also under-staffed and overworked at this time.

Step 3. Have all your information ready and the reason (preferably in writing) that you cannot make the payment or can only make the taxes and insurance payment.(Ask for 3 – 6 months due to the uncertainty)

Points to remember:

1. CARES Act is mainly for government-backed loans. (Fannie Mae & Freddie Mac) Click those links to see if your mortgage falls under those categories.

2. If you don’t have a federally backed loan, still contact your mortgage provider because they all have remedies to solve your challenge.

3. Make sure you receive a letter or something you can PRINT from your servicer that says when you can STOP making payments or provide PARTIAL payments.

4. Make sure you ask if it will show on your credit report as CURRENT on payments, so it does not affect your score.

As a proactive reader you can contact your credit reporting agencies and send them the letter you received and who you talked with.

**Make sure you understand if the mortgage provider wants you to pay it all back at once, make small payments with regular mortgage, or move the payments to the back of the loan.

Remember: Most people refinance within 3, 5, 7, or 10 years. Don’t get upset if they add another year on to your mortgage for the year of payments you can miss.

Any extra questions or concerns you can contact me:

WEB – www.kenBIGblake.com

Phone – 833-607-4357 ext 800

Email – BIG@kenbigblake.com

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