Unemployment Forbearance Question?


LoanSafe Member
Oct 24, 2013
I spoke to Chase tonight after getting a Notice of Intent to Forclose letter. We are two months behind. Applied for Mtg Assistant a few weeks back. The customer care rep said that we are eligible for an unemployment forbearance and when that ends we can apply for a loan modification.

What happens to the unpaid money we don’t pay after the forbearance ends? Is it due at once? If I skip the forbearance option the rep said we could just go ahead and apply for the modification now? Not sure the best option. I hope to be back to work soon but it’s taking longer than anticipated of course. Any advice?

Thank you!!
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Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage
Aug 10, 2007
Southern California

Yes, the money will need to be repaid back. They may give you three options. One would be to make a one-time payment of the full amount due which would reinstate your mortgage. You can pay extra every month to an agreed repayment plan or you can go with a loan modification.

The main issues you will have when you start work will be cash flow and be getting back on your feet so either a repayment plan or a loan modification may be your only options.

Good luck finding work!