how do you know. i would consider a ripple effect huashan2018 发表于 2020-09-11 14:54
Because rules are rules, the agreement of forbearance is that nothing is being reported to the credit bureau. It is completely righteous for all homeowners and investors to apply for it. A ripple effect is caused by a disturbance, which is when you go bankrupt in this context. I say folks should really do some research and not mix things. Mercy should be the last thing to consider when you are investing.
Because rules are rules, the agreement of forbearance is that nothing is being reported to the credit bureau. It is completely righteous for all homeowners and investors to apply for it. A ripple effect is caused by a disturbance, which is when you go bankrupt in this context. I say folks should really do some research and not mix things. Mercy should be the last thing to consider when you are investing. alpha101 发表于 2020-09-11 15:04
Because rules are rules, the agreement of forbearance is that nothing is being reported to the credit bureau. It is completely righteous for all homeowners and investors to apply for it. A ripple effect is caused by a disturbance, which is when you go bankrupt in this context. I say folks should really do some research and not mix things. Mercy should be the last thing to consider when you are investing. alpha101 发表于 2020-09-11 15:04
if nothing is being reported, then can you get another mortgage during forbearance?
if nothing is being reported, then can you get another mortgage during forbearance? huashan2018 发表于 2020-09-11 15:23
Just go and ask your bank and hear what they say. The credit bureau tracks all your payment activities. Of course in the middle of a forbearance, (some of) your mortgage payments will not show so just get ready to answer this question if you indeed apply for a new loan during the three month period. But it is not considered as a blemish on your credit at all.
Just go and ask your bank and hear what they say. The credit bureau tracks all your payment activities. Of course in the middle of a forbearance, (some of) your mortgage payments will not show so just get ready to answer this question if you indeed apply for a new loan during the three month period. But it is not considered as a blemish on your credit at all. alpha101 发表于 2020-09-11 15:37
so there IS something reported on your credit report, your missing payment. in fact, it won't hurt your credit score now, but you can not get refi or new mortgage during it, and what's more, you will need to wait another 3 months at least when your forbearance ends, to be qualified with new loans including refi or mortgage. so 3+3 = 6 months in total you are not eligible to take any refi or new mortgage, not able to get any pre-approval letter during this 6 months and you can not go touring/virtual touring/putting offer on a house in the next 6 months, and lose probably in fact next 8-10 months to any opportunity. And I won't say any banks in the future will not be selective when they see a buyer with forbearance background.
so there IS something reported on your credit report, your missing payment. in fact, it won't hurt your credit score now, but you can not get refi or new mortgage during it, and what's more, you will need to wait another 3 months at least when your forbearance ends, to be qualified with new loans including refi or mortgage. so 3+3 = 6 months in total you are not eligible to take any refi or new mortgage, not able to get any pre-approval letter during this 6 months and you can not go touring/virtual touring/putting offer on a house in the next 6 months, and lose probably in fact next 8-10 months to any opportunity. And I won't say any banks in the future will not be selective when they see a buyer with forbearance background. huashan2018 发表于 2020-09-11 15:47
One option at the end of the three months is to do a refi, come on! Your example could hold true as one example, aka one data point only.
One option at the end of the three months is to do a refi, come on! Your example could hold true as one example, aka one data point only. alpha101 发表于 2020-09-11 15:50
no , you can not. when forbearance ends, banks need to see you make another 3 consecutive, successful payments at least, to put you back in the safe harbor. so it is 3+3 = 6 months that they put you on a hold.
1.不影响credit 2.没有fee，打个电话即可 3.所有payments延期三个月，就算cash flow不受影响也可以多bank三个月cash 4.三个月到期后一般来说是要一次性付清这个三月的payments，也可以选择其他refi option之类
综合分析下应该是没有harm。大家也可以考虑下。
Update: 刚刚打了电话申请了10.1 - 12.31为期三个月的forbearance，两个mortgages，整个过程不到10分钟，得到的信息基本确认了以上四点。 计划三个月后再一次性付清这六笔费用。到期也可以选择部分defer，只是到时候如果有escrow shortage部分必须补上，不能defer。
这期间到付清延期之前不能申请贷款和refin
感觉这也不是harm？
这个如果把贷款延长3月还有点意思，可是没有，不知道好处在那里。
存三个月不超过十块钱吧
no idea what you mean by "给国家财政添负担", this kind of thought is totally handcuffed by ideology, you may want to say all those ABS investors???
接下来的最少3年，或许4年，你会贷不到任何贷款，也不能refinance ==> bullshit
Forbearance is nothing different from a Paused Payment Plan.
how do you know. i would consider a ripple effect
Because rules are rules, the agreement of forbearance is that nothing is being reported to the credit bureau.
It is completely righteous for all homeowners and investors to apply for it.
A ripple effect is caused by a disturbance, which is when you go bankrupt in this context. I say folks should really do some research and not mix things.
Mercy should be the last thing to consider when you are investing.
你省下的那点钱，存银行没啥利息，丢股市可能全没了，外加没法继续买房子（除非all cash但那更傻），没法refinance，真是赚了几百块钱利息，损失了所有oportunities，这agent也是一个二傻子。
这么自信，你继续吧，都懒得给你转link。
if nothing is being reported, then can you get another mortgage during forbearance?
Just go and ask your bank and hear what they say.
The credit bureau tracks all your payment activities. Of course in the middle of a forbearance, (some of) your mortgage payments will not show so just get ready to answer this question if you indeed apply for a new loan during the three month period. But it is not considered as a blemish on your credit at all.
so there IS something reported on your credit report, your missing payment.
in fact, it won't hurt your credit score now, but you can not get refi or new mortgage during it, and what's more, you will need to wait another 3 months at least when your forbearance ends, to be qualified with new loans including refi or mortgage.
so 3+3 = 6 months in total you are not eligible to take any refi or new mortgage, not able to get any pre-approval letter during this 6 months and you can not go touring/virtual touring/putting offer on a house in the next 6 months, and lose probably in fact next 8-10 months to any opportunity.
And I won't say any banks in the future will not be selective when they see a buyer with forbearance background.
One option at the end of the three months is to do a refi, come on!
Your example could hold true as one example, aka one data point only.
no , you can not.
when forbearance ends, banks need to see you make another 3 consecutive, successful payments at least, to put you back in the safe harbor.
so it is 3+3 = 6 months that they put you on a hold.
何不食肉糜？在这个困顿的时候，有人丢工作的，有房客不交租的。open-minded 一点很难吗？
大家有毛病挑ta的刺啊
阴阳怪气是因为 ignorance and arrogance