Real Estate News

Forbearance News: Borrowers Can Now Defer Payments Until The End Of Their Loan


Written By: Jaymi Naciri
Thursday, May 21, 2020

The >

Previously, there was some question as to whether borrowers would have to make a lump sum payment at the end of their forbearance period or enter into some other type of agreement that would potentially increase their monthly payments.nbsp;nbsp;

Payment deferral is one of the repayment options, they said. Servicers will begin offering the payment deferral repayment option starting July 1, 2020. In addition to the new payment deferral option, borrowers with COVID-19 >

Up to 12 months of deferred payments can be added to the end of the loan term. The deferred sums to be repaid include principal, interest and escrow advances, said National Mortgage News. Borrowers will not have to make the missed payments in a lump sum.

And now for the bad news

There is one piece of not-so-good news >

The stimulus bill contained language that was meant to protect borrowers from credit issues >

Copyright© 2020 Realty Times®. All Rights Reserved

 

Facebook linkedin twitter youtube googleplus instagram
Map SearchClick here for a free Market AnalysisBuyers: Search here for your Dream HomeSubscribe! Sign up to recieve our Newsletter!Real Estate Outlook
Updated: Thursday, May 28, 2020


Barn Doors Aren’t Just Here To Stay. They’re Here To Slay!

And now were looking around our house trying to come up with the perfect spot to add another one....
> Full Story

Millie's Motion At The Annual HOA Meeting

But wait Millie, a longtime resident, rises to her feet and says "Madam President, Id like to pro...
> Full Story

Forbearance News: Borrowers Can Now Defer Payments Until The End Of Their Loan

The >

Previously, there was some question as to whether borrowers would have to make a lump sum...
> Full Story



Copyright ©2020 - Realty Times®
All Rights Reserved.