Hidden Mortgage Relief: 5 Steps Mountain View Owners Miss
Timothy Alston | Broker
Aegis Luxury Real Estate · DRE# 01328224
Published
December 14, 2020
Innovation central, downtown vibes
If you own a home in Mountain View and your mortgage payment has become difficult to manage, there are 5 steps outlined by the Consumer Financial Protection Bureau (CFPB) that could help you keep your home. Many homeowners do not know this process exists or that they must actively request it. Forbearance is not automatic. You have to ask for it.
You know how some months it feels like you are barely keeping pace with the payment? And then something shifts, a job change, a medical bill, an unexpected expense, and suddenly the mortgage feels like the one thing you cannot quite cover? A lot of homeowners in Mountain View are dealing with exactly that right now. But here is the part most people have not stopped to think about yet: there is a structured process to follow, and skipping even one step could mean missing relief you were already qualified to receive.
So before anything else, ask yourself this: if there were a clear set of steps that could protect your home during a financial rough patch, would you want to know what they are?
What Most Mountain View Homeowners Do Not Know About Forbearance
Have you ever stopped to think about how many homeowners quietly fall behind, never realizing help was available the whole time? The Urban Institute found that approximately 400,000 homeowners who became delinquent after the pandemic began never applied for forbearance, likely because they did not know they were eligible.
What would that mean for you, if you were in that group? Missing a benefit you already qualified for, not because you did not need it, but because no one walked you through the process?
Mike Fratantoni, Chief Economist at the Mortgage Bankers Association, noted that a rise in new forbearance requests appeared to come from increased outreach to homeowners who had not previously taken advantage of available programs. In other words, people are not failing to apply because they do not need help. They are failing to apply because no one told them how.
The Proven 5 Steps to Follow If Your Payment Is Becoming a Problem
The CFPB published these 5 steps specifically to help homeowners request mortgage forbearance without confusion. Each step builds on the last, and skipping one could cost you. Here is what the process actually looks like.
Step one: Find your servicer’s contact information. Pull out your most recent mortgage statement and locate the phone number for your servicer. That is the company you send your payment to each month. The CFPB specifically recommends using the number on your statement to avoid scams, not a number from a search engine or an unsolicited call.
Step two: Call your servicer and explain your situation. This is the step most people hesitate on, but it is also the most important one to follow through on. Your servicer needs to hear your circumstances to determine the best course of action. Ask any questions you have. There are no wrong questions here.
Step three: Ask whether you are eligible for protection under the CARES Act. The CARES Act covers homeowners with federally backed loans, including FHA, VA, USDA, Fannie Mae, and Freddie Mac. Some private servicers are also offering forbearance programs of their own. You will not know which category you fall into until you ask.
Step four: Ask what happens when the forbearance period ends. This is the step where property values, equity, and your long-term financial picture come into focus. You need to understand your repayment options before you agree to anything. Key questions to raise: What happens to the payments you miss? When does repayment begin? Are there fees? What options are available when the deferral period closes?
Step five: Get the agreement in writing. A written agreement lets you see exactly what you agreed to, and gives you something to compare against the conversation you had on the phone. Do not skip this. It protects you.
Can you see how following all 5 steps, rather than just making one phone call and hoping for the best, actually changes the outcome? Does that make sense?
What Happens If You Wait and Do Nothing?
Here is a consequence worth sitting with. What happens if nothing changes? If you keep missing payments without a forbearance agreement in place, the path toward delinquency and eventually foreclosure becomes much shorter than most people expect. That is not a scare tactic. That is just how mortgage servicers are required to handle non-payment without a formal agreement on file.
The CFPB is direct about this: forbearance is not automatic. It must be requested. Waiting to see if the situation resolves itself is the one approach most likely to make things worse.
For anyone exploring Mountain View homes for sale, understanding forbearance options is also part of buying responsibly. Knowing what protections exist before you close is one of the smarter steps a buyer can take. Buyer demand in Mountain View real estate remains strong, which means protecting the equity you build from day one matters more than ever.
If You Are Ready to Take the Next Step
Based on what many homeowners in Mountain View are navigating right now, the 5 steps outlined above could be exactly what stands between keeping your home and losing ground you worked hard to gain. The process is straightforward when you follow it in order. The challenge is knowing it exists and having someone help you think through the implications for your specific situation.
Do you feel like this could be what you have been looking for? If so, the next step is a simple conversation with a trusted resource who knows the local market and can help you think through your options clearly. Not a pitch. Not pressure. Just a straightforward look at where you are and where you want to be.
Timothy Alston, Broker, DRE# 01328224, is available to help you think through your situation. Reach out at (408) 207-4593 when you are ready to have that conversation.
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Broker · DRE# 01328224
Aegis Luxury Real Estate
Harvard Business School Online, Certified Master Negotiation
23+ Years Silicon Valley Real Estate Experience
Retired Military Veteran
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Aegis Luxury Real Estate · Timothy Alston, Broker, DRE# 01328224 · 10080 N. Wolfe Rd Ste SW3-200, Cupertino CA 95014 · (408) 207-4593
Last updated: July 04, 2026 | Data reflects July 2026 MLS statistics
