Last week various mortgage institutions announced a new program designed to help struggling homeowners weather the present economic downturn.  It allows homeowners who qualify to suspend mortgage payments for up to 12 months and avoid late fees and late payments reported on their credit record.  However, the program has pitfalls that homeowners need to be aware of.  Please watch this video to learn what consumers should be asking BEFORE they agree to the forbearance program: I hope this video is helpful!  Please feel free to share with others.