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Jason Hardy from Homestead Financial Mortgage discusses the drawbacks of forbearance agreements, emphasizing that they should only be considered if you are at risk of losing your home. He warns against accidentally entering into a forbearance agreement, as it can lead to credit card cancellations, damage to your credit score, and hinder your ability to refinance at low mortgage rates in the future. Hardy advises viewers to be cautious and understand what a forbearance agreement entails before agreeing to one.
