COVID-19 Forbearance

Max Gardner and forensic accountant Jay Patterson review the options available for borrowers at the end of their forbearance plans. Government backed loans have different resolution programs depending on various factors. Max and Jay explore theses complex factors for Fannie Mae and Freddie Mac loans as well as FHA/VA insured loans. For example: why the status of the loan on March 1, 2020 is important with respect to many programs, and what to do if the borrower is not able to maintain their pre-forbearance payment. Escrow issues can play a part of the post-forbearance options. Previous partial claim modifications are integrated in the decision process as well for FHA loans. Max and Jay also review the new Reg X loan modification rules.

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