Forbearance = total due after 90 days, or

Apr 1, 2020
5:43:54pm

Plato Intervention Needed

Whatever the forbearance period is. Deferrment = pushing back all payments and they resume at regular amounts after deferrment ends. At least that is how my bank defines it.

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Plato

Bio page: Plato
Joined: Mar 21, 2017
Last login: Apr 28, 2024
Total posts: 19,793 (473 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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