No proof needed, at least on paper
The guidance also notes that borrowers are not required to provide documentation to prove financial hardship when asking for forbearance. "And, you are eligible regardless of delinquency status, so it does not matter if you are delinquent at the time of application or were delinquent before the president's March 13, 2020, emergency declaration," the guide says.
It also restricts accrual of fees, penalties, and interest during the forbearance period and notes that "most servicers are required under federal regulations to notify you about applying for other mortgage relief options."
Borrower obligations, and no clear end in sight
The guide does note that it's up to the borrower to seek forbearance, including letting the servicer know in advance of the expiration of the first one if you intend to seek a second one.
And the deferred payments need to be made up. "At the end of your forbearance period, you and your servicer will determine how you will repay any missed payments or deficiencies related to reduced payments, especially in your escrow account," the CFPB and CSBS guide says.
That said, it notes: "The decision to request forbearance should be considered carefully; however, Congress has made the actual request process very easy."
Not so easy is seeing an end to the coronavirus crisis. Here's the presidential emergency declaration itself. It does not contain an expiration date. With a summer lull hoped for and an autumn resurgence predicted, that appears to be anyone's guess.