Homeowners coming out of forbearance should know that you can pay off all of your missed payments in one lump sum, but service agents aren’t allowed to force you to do so. You also have the option of paying off the missed amount over several months on top of your regular mortgage payment, paying off the missed amount at the end of your loan, or requesting a loan modification. The Consumer Financial Protection Bureau has more advice available here.
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6. Start saving money for holiday shopping
You still have nearly two full months left before the first holiday sales drop. It might seem like a lot of time, but when it comes to finding some extra cash to set aside for higher year-end expenses, any extra time you can get will come in handy. Try putting your vacation spending money in a separate compartment, whether it’s opening a new (free) savings account or splitting money from your existing bank accounts, says Philbin. (Several banks have introduced a version of savings compartments, where you can allocate certain amounts to separate purposes.)