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The COVID-19 scourge has left many people desolate. Cities have been shut down and job losses have become the order of the day. However, it is impressive watching how most of the states have stepped up in a bid to provide relief to the frustrated citizens.

The mortgage borrowers are part of those that have benefited from the kind gestures of the state after relief measure targeting them were introduced. However, the move was specifically targeted to the select group whose mortgages hadn’t been backed up by the federal government.

Several jurisdictions have been at the frontline in backing up the citizens in this regard. These include New Jersey, New York, and California among many more. They have advocated for policies that will witness the borrowers proceed with the move to ask for a 90-day reprieve on their payments.

The support being provided is a good thing and there I no doubt about it. However, experts advise the borrowers to ensure that they are getting everything right despite the difficult times they are going through to avoid regrets in the future. The deadly virus has hit almost all the homeowners and thus no one should be derailed to personalize the impact. The postponement of the mortgage payments is something quite different from being forgiven as many are tempted to believe.

Any borrower needs to check out the CARES Act and get to understand it from a wider context of meaning. That is the only way for one to ensure that he/she remains on the safe side. The move to cushion borrowers has been specially cut out to help those that have been hit hard financially as a result of the deadly pandemic. One is required to provide proof that indeed he/she is straining financially and that should be directly linked to the deadly virus.

Getting matters straight is about the realization that you are not being forgiven. The reality of the matter is that the federal and the state COVID-19 measures are about advocating for forbearance. In some other words, it is about calling out for the postponement and or reductions in loans.