Watch Robert, Jason and Jaclyn to learn more
From the April KNWA interview with Robert Brown, Jason Suel and Jaclyn House
No Headphones. No Problem. See below for transcript.
During this truly unprecedented time of
global pandemic many have lost their
jobs and income the last thing you
should be worried about is losing your
house yeah if you have a mortgage you
may be crunching the numbers to see how
long you can make your mortgage payments
that's right now there are many
resources and tips for homeowners during
the Covid 19 crisis and here to discuss
homeowners options is Robert Brown a
loan officer with ROC mortgage hi Robert
Robert are you good thank you so much
for joining us now if someone is
experiencing financial hardship because
of the coronavirus what steps should
they take in regarding their mortgage to
take just a minute and thank all of our
real heroes out there are first
responders people on the on the front
lines and you guys are sacrificing a lot
and we really really appreciate you here
Rob mortgage but the first step would be
to if you're having trouble making your
payment or you see on the horizon that's
going to be the case
figure your budget figure out how many
payments you have to make and then call
your servicer that the first step is to
call your service or who you're making
your checks out to and let them know
your situation and they'll be able to
help you out now Robert are there
consequences for homeowners who are not
making their mortgage payments could not
make their mortgage payment the carries
a stimulus package put into law on March
27th allows borrowers to skip up to six
months now I say skip I mean don't pay
right away which in a situation where
you can follow parents claim if you were
qualified that's it's very important to
understand that this is not free money
you're just if you are affected by Kovac
19 financially then then this is an
opportunity for you to either make a
lower payment just put yourself into
variance that's a great distinction
there you have between those things yeah
absolutely good to point out that like
you're saying it's not necessarily skip
it's just maybe not pay right now now
I've heard of the term forbearance right
you explain what that is Roberts is
basically a momentary pause of payments
there's a multitude of ways this could
be handled once you call your servicer
they can suspend payments they can lower
payments they can do a multitude of
different things to help you out but the
object is to not affect your credit to
put a pause on those payments so that
it's not affecting your credit and money
back at the end but it's just it's an
opportunity for everybody to be helped
by not making that payment when they
can't sure now what is a repayment
options Robert are you can you can
either repay on a graduated scale so
after the forbearance period is over
you can either pay all of it up so let's
say you skip three months payments you
can pay all of that on that fourth month
make full payments at once if you can't
do that you might be in a situation
where you can take you could to buy that
over a few months and then back that way
in the most extreme cases you can even
do a loan modification and maybe put
that sum of money on the back end of
your loan okay now what if you're able
to make a portion of that payment and
you actually haven't really experienced
any loss of income as long as you can
afford to make your normal payment and
you are not affected by that 19 pretty
much all mortgages still have a disaster
relief situation in that mortgage so you
can still call your mortgage company and
explain the situation to them obviously
do not just not pay
if you and the worst thing you can do is
just not pay a bill you want to pay that
as long as you can and call your service
you're well in advance so that they can
help you with this process absolutely
right
so what we're hearing from you Robert is
of course it's not free money it's just
there are options if you cannot pay
right now and it won't impact your
credit so you definitely want to work
with a loan officer like yourself to
make sure that your credit is not
impacted and work closely with your
office yeah hey thank you so much for
joining us and filling us in we're gonna
have information for our viewers at home
on how they can contact you how can
contact ROK mortgage get in touch with
one of the loan officers there yeah and
we're gonna have those tips over on our
website good day NWA calm stay with us
more good day right after this
