Know your Mortgage Relief Rights
Description
Millions of homeowners are on forbearance plans.
The federal CARES Act — gives borrowers with home loans the right to get a 180-day pause in payments on federally backed mortgages.
But many homeowners don’t realize they can get additional time if they’re unable to pay after that period.
A new federal consumer relief guide provides a full explanation of this process. The Consumer Financial Protection Bureau (CFPB), which produced the guide, explains that homeowners won’t accrue fees or interest beyond the amounts already scheduled based on the terms of the mortgage.
Consumers should also be wary of anyone offering to help with the forbearance process for a fee.
To access this guide and other financial tools go to consumerfinance.gov.
Metadata
Title: Know your Mortgage Relief Rights
Format: Video
Clean of Graphics: No
Type: Interstitial/Promo
Subject(s): Coronavirus
Public Broadcasting Station or Institution: South Florida PBS
Original Broadcast/Publish Date: 05/19/2020
Runtime: 00:01:00
Main Asset File Size: 0 GB
Rights Information:
- Media Rights: All manner and media
- Territory (*Please note: all internet exploitation of this program must be geo-limited to the specified territory): United States (including territories and possessions)
- Expires: 06/19/2020
- Releases: Unlimited
- Editing Allowed?: No
- Digital Classroom Rights: Yes
- Promotional Use: No
Sensitive Material: N/A
Special Instructions: N/A
Language: English