Watch Robert, Jason and Jaclyn to learn more
From the May KNWA interview with Robert Brown, Jason Suel and Jaclyn House
No Headphones. No Problem. See Below For Transcript.
Welcome back now almost every industry
has been adversely affected by the
current pandemic and the housing market
of course no different for some home
purchases have even been put on hold as
people try to figure out how long we're
kind of gonna be in this in this area
this kind of new normal here if you want
to call that but all the news isn't bad
here to provide an update on the housing
market is a Robert Brown loan officer at
ROC mortgage hey Robert good to see you
hey Robert
thank you yeah for sure so Robert what
is the biggest impact you've seen on
homeowners well first I'd like to extend
our thoughts and prayers to all those
affected by the novel coronavirus with
so many out of work or working with less
money we've seen the aftermath ripple
throughout the society the biggest
impact I've seen on homeowners is the
amount that are currently in for parents
though 3.8 million homeowners were in
forbearance plans as of April 30th that
is 7.3 percent of all mortgages
it's truly unheard of proponents is the
for just a recap for parents is the
temporary postponement of your mortgage
payment due to financial hardship it is
important to know that it is not
forgiveness these plans these payments
will be due after a certain amount of
time and this will create another
problem for homeowners down the road
because they will need to make a big
balloon payment sometimes you can work
out a payment plan for that amount but
in many cases the payment is due in one
big lump sum so be aware since the
finance is not a guarantee it is very
important that you continue to make your
mortgage payments as scheduled yeah
absolutely not remember we talked about
that last time yeah yeah for sure
because that was a new term to meet
forbearance and I'm curious about
forbearance have forbears requests have
they slowed down or love them off you
know we've been tracking that
forbearance and noticing it came in a
big wave in April
April's big wave was around the 1st and
the 15th of the month and that's when
most mortgages are due and you know the
late payments start to incur the numbers
tapered off after the 15th but sadly
we're in the middle of a surge period
again so
I expect those numbers to rise again
between now and May 15 yeah what have
you seen what have been the biggest
effects of Copan 19 on the home buying
market well the home buying markets in
Hardy in areas like New York and New
Jersey and and people up in the
Northeast
you know they slowed down tremendously
however home buying and pricing have
remained very steady here locally in
Northwest Arkansas through the first
quarter of 2020
in fact home sales in Benton and
Washington counties were up 15 percent
when you where March of 2020 into March
of 2019
and home prices are actually up nine
percent so all this is is very very good
and very strong indicators for healthy
market yeah yes seem like the market is
strong there was a house verging on the
street where I live that was they hit
the market maybe like end of March it's
so blessed already so it seems like the
housing markets pretty strong as far as
if you're a buyer looking for a home
yeah yeah sure yeah let me ask you this
if someone is interested in learning
more about forbearance refinancing their
home or purchasing a new home during the
age of Cove at 19 where can they turn
Robert they can talk about mortgage you
know if you're talking about your your
current mortgage and you're needing some
advice on that call contact your service
or your current servicer their phone
number and address are going to be
excuse me their phone number in the in
address are going to be on your monthly
mortgage statement but if you're looking
to refinance or just see if you qualify
for a home loan
call call our team that ROC mortgage and
when we could certainly help yeah yeah
thank you so much for taking the time to
chat with us today we're appreciated
Robert thank you Robert yeah thank you
so much yeah for sure
