Advanced Real Estate Solutions in Las Vegas, Nevada



Most homeowners can temporarily pause or reduce their mortgage payments if they’re struggling financially.

Forbearance is when your mortgage servicer or lender allows you to pause or reduce your mortgage payments for a limited time while you build back your finances.

For most loans, there will be no additional fees, penalties, or additional interest (beyond scheduled amounts) added to your account, and  you do not need to submit additional documentation to qualify. You can simply tell your servicer that you have a pandemic-related financial hardship.

Forbearance doesn’t mean your payments are forgiven or erased. You are still obligated to repay any missed payments, which, in most cases, may be repaid over time or when you refinance or sell your home. Before the end of the forbearance, your servicer will contact you about how to repay the missed payments.



While in forbearance, homeowners suspend their mortgage payments, but they aren’t eliminated. If the burden of repayment is too much, homeowners might want to consider selling their homes before the threat of foreclosure becomes a reality. Putting the house on the market voluntarily might be the most effective way to avoid foreclosure and a more favorable outcome for both the borrower and the lender.

Ready to figure out your BEST OPTION? Contact our expert agents below:



Here are some frequently asked questions regarding forbearance. If you are looking for some advice or if you have already determined that selling your home may be your best option, please contact us before your situation gets potentially worse.

Selling Your Home to Avoid a Possible Foreclosure

Homebuyer demand is strong in every market, and recent real estate statistics reflect the cutthroat competition. The high selling prices of homes on the market are boosting equity for all homeowners, according to a new report from ATTOM Data Solutions. A home is considered “equity-rich” when the amount owed on loans is 50% or less than the estimated market value.

Across the country, 41 states saw an increase in the percentage of homes considered equity-rich. In contrast, 49 saw a decrease in the percentage of homes that were seriously “underwater,” meaning that the homeowner owed more than the current market value of the home.

Between the high prices that homes are fetching and the high level of equity in the average home, homeowners afraid of foreclosure have a good opportunity to sell now.

When discussing the report, Chief Product Officer Todd Teta of ATTOM Data Solutions warned, “[The level of equity-rich properties] may shift once the foreclosure moratorium is lifted, and that’s something we’re watching, partly because it could limit equity gains and draw people underwater. For now, though, the equity picture remains one of many signs that the long U.S. housing market boom keeps charging ahead.”

No one can predict what will happen, and effects from the CFPB to curb massive foreclosures may spare many worried homeowners.

Still, timing is everything, and it’s a good time to be a seller.

Getting the Right Payoff

When selling a house, it’s important to get the right amount for the loan’s payoff. Regardless of the homeowner’s payment history, getting a mortgage lien released properly requires this step. 

There’s no public record of a homeowner electing to be part of a forbearance program, but it could still affect title and escrow work. The final payoff could be much higher than expected because of fees and interest added, resulting in potential delays. If homeowners in forbearance decide to sell, alert your real estate agent about your status. It’s important that title professionals receive information regarding forbearance as soon as possible to ensure the closing runs smoothly. 

Forbearance shouldn’t cause too much trouble as long as the proper payoff information is obtained from the current lender, mortgage servicer, or attorney.

What Are My Other Options While in Forbearance?

If you are not in forbearance but it is something you are considering, you likely have some other options. Aside from selling your home to avoid forbearance, you can also take some preemptive measures to try and avoid forbearance in the first place. With the current low interest rates, refinancing to lower your monthly payments may be a viable option. Something else you can try is working with your lender and discussing whether a loan modification may be a good option for you.