<div dir="ltr">I had a situation arise recently with a listing I have coming up.  The owner informed us that they are in forbearance because of Covid.  I wasn&#39;t sure if this would be considered a material fact so I emailed the NCREC.  Below is guidance from Steve Fussell, Chief Consumer Protection Officer with the NCREC if you come across the same situation.  <div><br></div><div>to Steve:</div><div><span style="color:rgb(0,0,0)"><i>I have a client that is in forbearance with his lender.  Is this a material fact that should be disclosed to all parties?</i></span></div><div><font color="#000000"><i><br></i></font></div><div><font color="#000000">From Steve:</font></div><div><font color="#000000"><br></font></div><div><p class="MsoNormal" style="color:rgb(0,0,0)"><i><span style="color:rgb(31,73,125)">Your email has been forwarded to me for reply. If the sale of a property will not produce sufficient funds to pay off the mortgage and all other debts, then the seller’s inability to pay off all debt is a material fact which must be </span>disclose<span style="color:rgb(31,73,125)"> to all interested parties in a timely manner (i.e. before a contract is formed).</span></i><br></p><p class="MsoNormal" style="color:rgb(0,0,0)"><span style="color:rgb(31,73,125)"><u></u> </span></p><div><br></div>