Pensacola Debt Relief Lawyers Warn of Mortgage Forbearance Periods Coming to an End

Pensacola, Fla. – Martin Lewis and Steven Jurnovoy, Pensacola debt relief lawyers, keep a close watch on local trends regarding personal economics and finance. In March of 2020, the COVID-19 pandemic led many people around the Gulf Coast to join a mortgage forbearance program. As most of these forbearance periods are still in progress, this March will mark the 12-month anniversary. However, for many, this 12-month mark is not just an anniversary; it is also an end. Lewis and Jurnovoy are taking a moment to remind their community that mortgage forbearance programs are about to come to an end for many individuals around the Gulf Coast.

It is safe to say that the pandemic took many people off guard. When it first began, there were so many unknowns, and the best thing people could do was simply take the next best step and not excessively fret about the future. When it came to mortgage payments, many Gulf Coast individuals decided to join a mortgage forbearance plan because it was their next best step. However, many lacked the knowledge of when their mortgage company would begin expecting payments again or what the next steps would be post-forbearance period.

Now, almost a year later, many Gulf Coast individuals will need to begin repaying their mortgage in March or April. For those sharing this circumstance, it is vital to be prepared ahead of time. Many mortgage companies will not only require the usual monthly payments this year but also the payments missed from last year. This will lead to many people essentially paying double mortgage payments each month. The best plan of action for these individuals is to make sure they gain a full understanding of what their mortgage company is expecting in the coming months, and from there, put their resources into preparing as best they can.

For individuals who need to consider their options regarding bankruptcy, debt lawyer Martin Lewis gives the reminder: “This is what we deal with in our office every day. Do not feel like you have to deal with it alone because you don’t.”

Martin Lewis and Steven Jurnovoy have been assisting individuals financially since 1998, helping them choose the best plan of action according to their specific situation. They serve clients across the Florida Panhandle in Crestview, Panama City, Pensacola, and Fort Walton Beach. For further inquiries or to ensure the smoothest process possible when filing for bankruptcy, give Lewis and Jurnovoy a call today at 850-432-9110 or visit their website at https://lewisandjurnovoy.com/.