If you are currently struggling to pay your mortgage because of the effects of COVID19, know that you are not alone. Many are wondering how they are going to keep their homes during these trying times. This could be a time that loan forbearance comes into play. Under forbearance, your loan payments are postponed or reduced, but interest continues to accrue during the period of forbearance. If you don’t pay the interest during that period, the interest may be “capitalized,” which means it is added to your principal balance. Forbearance does not affect your credit rating however the payment history or loan modification can limit your options for future financing for a period of time.  People should use Forbearance as a last resort.  If you are in a position where making your mortgage payments is difficult, contact your mortgage servicer right away to talk through options.