mortgage forbearance

Gap
FEJi53

Go to company page Gap

FEJi53
Apr 1, 2020 4 Comments

Several (fannie and freddie for example) lenders have enacted forebearance for mortgage holders for up to a year.

does that mean people with house mortgages will basically live “rent free” for a year with no consequence?

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TOP 4 Comments
  • New
    hilolol

    New

    hilolol
    noob and US immigrant here.. What is Fannie and Freddie ?
    Apr 1, 2020 1
  • Google / Eng
    ABC-CEO

    Go to company page Google Eng

    ABC-CEO
    They just waive the late payment penalties, they don't forgive any debt
    Apr 1, 2020 0
  • eBay
    statsig

    Go to company page eBay

    statsig
    Only if you’ve lost a job.

    I’ve read bank of america allows upto 3 months but on the 4th month all the pending mortgage for past 3 months becomes due as well as the 4th month is due.

    So it is not as easy and straightforward as it sounds on paper.
    Apr 1, 2020 0