Prop Mgmt


Homeowners should understand this term as it applies to home loans. Wikipedia states that it is, “The action of refraining from exercising a legal right, especially enforcing the payment of a debt”.

The Bible has a definition that states it concerns patience, leniency, tolerance and showing mercy. Where is a resource for information on this option on your loan?  It is the Consumer Financial Protection and just search the site for all the information on Forbearance.


Yes, you might be able to request a postponement of your mortgage payments. If you have any kind of Federal Loan (FHA, VA, USDA, Fannie Mae, and Freddie Mac), provisions of the recently enacted CARES act allow you to temporarily suspend payments if you are experiencing financial hardship due to the coronavirus.

You can request forbearance up to 180 days and also request an extension of an additional 180 days. You must contact your loan servicer. You do not need to submit additional documents.

Non-Federal Lenders do not come under the CARES act, but most of them offer some options. CFPB recommends that you check the Regulations for California.


Some questions you should ask.

  1. Can the loan terms be extended so that missed payments are added to the end of my mortgage?
  2. Will my future payments be higher for a period of time?
  3. Will I owe the entire unpaid amount in a lump sum once the pause period has ended?
  4. What options are available to me?


This information was relayed to me by John Shore, Executive Director, Community Housing Council of Fresno. This is a HUD-approved Agency. John is an outstanding Director, and I am so appreciative that he is an instructor for our MLO 8-Hour CE Webinar Courses, and soon to become an instructor of our 20-Hour Pre-Licensure Course and our Exam-Prep Class to pass the NMLS exam.

The final sentence in his relay to me states, “For more in depth information, including on how to find a HUD-approved housing counselor, go to” Thank you John Shore, and congratulations on your exceptional ratings on your Webinars for DGE. See you around campus. Keep shining.

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