Mortgage Forbearance Agreement Written on A Book


John E. Pytte Feb. 16, 2022

If your mortgage forbearance plan has expired, it means that you are required to continue making mortgage payments again. However, if you—like millions of other homeowners across the United States—are struggling to make payments after your mortgage forbearance ends, it is crucial to understand your options.

Speak with a debt relief attorney to explore your options when your mortgage forbearance has ended or is about to end. At Pytte Law, I can evaluate your unique situation and explain the options available to you after forbearance ends. I have the experience and resources to help you pursue the best solution in your particular case. With offices in Savannah and Hinesville, Georgia, I also represent clients in Statesboro and Richmond Hill as well as surrounding counties, including Liberty, Chatham, Long, Bryan, and Effingham.

Understanding Mortgage Forbearance

Millions of homeowners have had a hard time making mortgage payments from the beginning of the COVID pandemic. As a result, the government passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which allowed homeowners to get temporary mortgage relief.

Essentially, mortgage forbearance means that the eligible homeowner’s mortgage servicer or lender will pause or reduce their mortgage payments for a set period of time. According to a release by the White House, nearly 7.2 million U.S. households enrolled in forbearance.

Your Options After Forbearance Has Ended

Since forbearance is a temporary solution, homeowners need to understand their options when forbearance ends. Failure to make mortgage payments after forbearance expires or any attempts to dodge the lender could result in negative consequences, including foreclosure. Typically, a homeowner may have to choose between four options:

  1. Lump-sum payment. While a borrower has the option of repaying missed payments in a lump-sum payment, the option may not be appropriate for most borrowers who can barely make both ends meet.

  2. Repayment plan. Another option is to negotiate a repayment plan, which basically means repaying missed payments for a set number of months by making additional payments along with the regular mortgage payments each month.

  3. Deferral or partial claim. Alternatively, a borrower may choose a partial-claim payment plan, also known as a deferred payment plan, which would allow the borrower to pay the missed amounts at the end of the loan.

  4. Modification. A borrower may be able to negotiate a loan modification to reduce the monthly mortgage payment to the amount the borrower can afford.

Since each case is unique, a consultation with a debt relief attorney may be necessary to understand your options after forbearance has ended.

Repayment Options for Various Agencies

The repayment of missed payments or amounts that were paused during the forbearance varies from one agency to another. However, the following federal agencies cannot require a borrower to make a lump-sum payment at the end of the forbearance:

  • Fannie Mae & Freddie Mac

  • VA


  • USDA

Depending on which agency owns your mortgage loan, you might want to explore your repayment options by visiting the agency’s website or contacting a debt relief lawyer. If your mortgage is a non-federally backed loan, your repayment options may differ. Visit the lender’s website to find out more—and then reach out to an attorney.

A New Rule to Avoid Foreclosure?

In 2021, the Consumer Financial Protection Bureau (CFPB) issued a rule that prohibited mortgage companies from initiating foreclosure processes against borrowers until after the end of last year. However, in 2022, the CFPB rule is no longer effective, which means borrowers are at risk of facing foreclosure proceedings if they do not take proactive steps to avoid foreclosure.

If you are facing foreclosure after your mortgage forbearance has ended, contact me at Pytte Law to help put you in a position to get back on track.

How Legal Counsel Can Help

Just because your mortgage forbearance has expired does not mean that you will lose your home, even if you cannot afford to make mortgage payments. Although your financial situation might seem hopeless, there is always a way out. As an experienced mortgage foreclosure attorney serving homeowners in Savannah and Hinesville, Georgia, I can assess your unique situation and help you find the best possible solution in your case to avoid foreclosure. Schedule a free and confidential consultation with me by reaching out to my office.