My understanding: if your payoff date was October 2040, it will now be November 2040. Interest may or may not be added

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Apr 1, 2020
4:26:39pm

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

Bio page: John Doe
Joined: Oct 23, 2010
Last login: May 4, 2024
Total posts: 38,625 (665 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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