A forbearance program in Utah is where the borrower pays a percentage of their outstanding mortgage payments, plus foreclosure fees, in addition to their regular monthly mortgage payments. This causes the mortgage payment to actually increase during the term of the forbearance program. The balance of the delinquency will be added to their regular monthly payments over a short period of six to forty-eight months.

Alternatively, a lender may “offer” to allow the borrower to catch up all back payments at once in a lump sum payment to the lender. In either scenario, forbearance programs do not typically stop foreclosure proceedings, forbearance programs simply “postpone” the foreclosure sale date.

To find out if you are eligible for a loan modification or if you have any questions about the services we provide, contact us by Phone at 866-297-3883 or email at info@shortsaleadvocate.cc.