Pros, cons of mortgage forbearance

Posted at 10:48 PM, May 14, 2020
and last updated 2020-05-15 01:48:38-04

LAS VEGAS (KTNV) — As unemployment rates continue to soar, many people are struggling to pay their mortgage. There is help in the form of forbearance.

Nearly four million Americans have applied for mortgage forbearance.

Market analyst Black Knight says that number could reach eight million by June.

Under the federal CARES Act, a forbearance lets you stop paying your mortgage for up to a year.