Should I defer my mortgage payments?
A Mortgage Deferral Program is the first line of
defense for thousands of
homeowners that need immediate relief. However, it may not be the best option for you since it increases your mortgage balance due to interest.
Consider some different options:
* using a Line of Credit to borrow what you need,
* make interest-only payments until the financial stress begins to ease,
* moving from accelerated to monthly payments,
* or extending your amortization.