1. Journalists touting how mortgage cos are going to pause payments, so concerns about not being able to pay them should be minor, might I suggest you do your job instead of eating bullet points fed to you by the government. Allow me.

2. Let me explain to homeowners what you're failing to, and what numerous homeowners who ended up in foreclosure after Harvey learned the hard way - there is a difference between mortgage deferral and mortgage forbearance.

3. Mortgage deferral is when the mortgage company suspends your payments for period of time, typically tacking the missed payments onto the end of the mortgage, extending the life of the loan.

4. Or, mortgage deferral may create a payment plan that adds a smaller, additional amount to payments once they resume so you can catch up the loan. This is relief that can save people from foreclosure during hard economic times.

5. Mortgage forbearance is entirely different. Forbearance is a suspension of foreclosure. They agree to allow you to skip payments for a defined period & in return, will suspend the foreclosure process. But, there's a BIG catch.

6. Missed payments are due at the end of that defined period. ALL OF THEM – IN FULL. 6 month forbearance? You're going to owe all 6 months +1 in month 7 & if they're not received, in full, they will begin the foreclosure process.

7. Let's say your mortgage payment is $1,500/mo. In a 6 mo deferral, the **payments** are deferred. They might tack an extra 6 mos onto the life of the loan, or request you pay an extra $300/mo once payments resume until caught up.

8. In a forbearance, the **foreclosure process** is paused. In a 6 mo forbearance on a $1,500/mo mortgage, you will owe the mortgage co $10,500 in month 7 (the 6 mos of missed payments AND your payment normally due in mo 7).

9. In talking with unemployed friends, they are being offered forbearances, NOT deferrals. That's the same thing the mo cos offered many Harvey victims & like with Harvey, many homeowners don't understand what they're agreeing to.

10. That's because you get a recording at most mo cos that explains forbearance, of course, as a much more helpful option than it is & press 1 to agree or press 2 to decline. And since this whole process is foreign to many, they do whatever will bring relief right NOW.

11. I watched lot of people lose their homes after Harvey by not understanding the difference between deferral and forbearance. KNOW WHAT YOU'RE AGREEING TO. Because it could cost you your home.