--- title: "ON KNWA: MORTGAGE TIPS DURING COVID-19" description: "During this truly unprecedented time of crisis, many have lost their jobs and income. There are many resources and tips for homeowners during this crisis." image: https://blog.blrmortgage.com/hubfs/KNWA%204142020%20Robert%20Brown%20Pic-1.png --- ![blrm_logo-166x45.png](https://blog.blrmortgage.com/hs-fs/hubfs/Mortgage_Site/images/blrm_logo-166x45.png?width=166&name=blrm_logo-166x45.png "blrm_logo-166x45.png") ![logo-rock-mortgage.png](https://blog.blrmortgage.com/hs-fs/hubfs/Mortgage_Site/images/logo-rock-mortgage.png?width=180&name=logo-rock-mortgage.png "logo-rock-mortgage.png") ![blog-bg.jpg](https://blog.blrmortgage.com/hs-fs/hubfs/Mortgage_Site/images/blog-bg.jpg?width=1600&name=blog-bg.jpg "blog-bg.jpg") # NEWS # ON KNWA: MORTGAGE TIPS DURING COVID-19 Posted by [Blake Montgomery](https://blog.blrmortgage.com/mortgage-newblog/author/blake-montgomery) on Apr 14, 2020 12:37:38 PM ![Blake Montgomery](https://app.hubspot.com/settings/avatar/0d0a314baa0a411b65de2e97005b52d9) - [Tweet](https://twitter.com/share) 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 Topics: [mortgage](https://blog.blrmortgage.com/mortgage-newblog/topic/mortgage) [Mortgage Loans](https://blog.blrmortgage.com/mortgage-newblog/topic/mortgage-loans) [COVID19](https://blog.blrmortgage.com/mortgage-newblog/topic/covid19) [CARES Act](https://blog.blrmortgage.com/mortgage-newblog/topic/cares-act) [Forbearance](https://blog.blrmortgage.com/mortgage-newblog/topic/forbearance) ### Subscribe to Email ### Recent Posts ### Posts by Topic - 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