Andrew Ackerman
speaker
348 appearances
7 recordings
1 series
first heard Mar 2019
last heard Aug 2022
Andrew Ackerman’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Mortgage Forbearance Safety Net Misses One Million Borrowers · 17 Sep 2020
podcast
And that's really scared people that the scripts that the mortgage companies go through with people on the phone have changed significantly.
And there's a lot more outreach and there's education efforts that some of the lenders are trying that consumer groups and some lenders kind of.
say it doesn't go far enough.
They'd like better marketing.
But those are the two factors.
There's just uncertainty or it's an unknown thing.
And there's just fear that people have to pay everything back at once.
And that's just not feasible for most people.
it shouldn't be that hard there's no documentation requirements you literally call your servicer and you say you can't pay and you want a forbearance and they're supposed to the the law the the there's a rescue bill from march it's called the cares act it says that people are entitled to up to a year it's it says six months that can be renewed for another six months um you have to ask for it
A lot of the lenders have been offering customers short of six months at a time.
They've been doing three-month forbearances that can be extended another three months and then twice more beyond the initial six months.
It just kind of depends on the lenders.
It's supposed to be really easy to get.
It's still confusing.
Even we talked to people who got the forbearance and they were also getting letters from their lender saying that they were at risk of foreclosure because they've missed all these payments.
And so you get these contradictory messages from your lender.
Those lenders are saying, hey, just ignore these letters, these contradictory letters.
We are required to send them by state or federal law and just know that you've got a forbearance.
But we still talked to people who said that that kept them up at night.
Well, that has also been a significant issue.
Showing 161–180 of 348 · page 9 of 18
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