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Apr 1, 2020
4:26
:39
pm
John Doe
Truly Addicted User
My understanding: if your payoff date was October 2040, it will now be November 2040. Interest may or may not be added
Depending on whether it was backed by federal guarantors such as Freddie Mac or Fannie Mae.
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John Doe
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John Doe
Joined
Oct 23, 2010
Last login
Mar 28, 2024
Total posts
38,227 (659 FO)
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Messages
Author
Time
Does anyone know how this mortgage forbearance works? If your mortgage payment
ray ray
4/1/20 4:11pm
Not an expert, but from what I've seen forbearance just allows you a reprieve
braddahmike
4/1/20 4:23pm
My understanding: if your payoff date was October 2040, it will now be November 2040. Interest may or may not be added
John Doe
4/1/20 4:26pm
Depends on the lender
4mack
4/1/20 4:32pm
Forbearance = total due after 90 days, or
Plato
4/1/20 5:43pm
So if it is deferrment, no interest is charged during the deferred period?
ray ray
4/1/20 6:48pm
Correct. This is how my bank defines it:
Plato
4/1/20 6:57pm
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