Check your mortgage

  • My buddy has a fairly big mortgage.. he just looked and he has a 'forgiveness' of 6 months. meaning he can not make payments for 6 months.. he still has to pay taxes and insurance but he can build a cushion. you might check your terms. his adds the payments to the end of the loan


    lazs

    "Don't let it end like this. Tell them I said something."



    Pancho Villa, last words (1877 - 1923)

  • We did, once. Paid it off in 20 years on a 30 note. Paid cash for the next house.

    Rock-Ribbed Capitalist

    No amount of evidence will ever persuade an idiot - Mark Twain

    TWAT on 10/14/2019 :

    Lemme say that again... I don't care. If. The accusations against Trump. Are factual. Or not.

  • LOL... hell.. I damn near paid mine off twice.. but ... well... ever hear the expression "cheaper to keep her" ? I owe like a sixth of what mine is worth again... The future ex mrs lazs may change that tho.


    lazs

    "Don't let it end like this. Tell them I said something."



    Pancho Villa, last words (1877 - 1923)

  • One might want to check the "deferred" part usually that only applies to the principle and the interest just keeps building up. Now there could be special considerations that will allow you to not make any payments,but the banks arent going to miss out on all that built up interest.


    If housing prices drop over this,I might consider getting a new mortgage or 2 myself.

  • My buddy has a fairly big mortgage.. he just looked and he has a 'forgiveness' of 6 months. meaning he can not make payments for 6 months.. he still has to pay taxes and insurance but he can build a cushion. you might check your terms. his adds the payments to the end of the loan


    lazs


    Usually called "forbearance". Most often you accrue interest, and possibly late fees, but they won't foreclose.


    I started from scratch in 2018 after the divorce. Hope to not need it. Selling this one in 3-5. The next one I keep, barn house, shop down stairs loft above. Big. That'll get me by until the woman can retire, early, I hope. Then moving to the mountains, hope to buy some property in 5-7 years, and build.

  • Don’t skip payments if you don’t absolutely need to.


    Good way to bring about another housing bubble bust.

    Backyard Commandos INC, HMFIC


    I disagree but I respect your right to be stupid.


    Winners focus on winning, losers focus on winners.


    It's hard for liberals with mental disorders to think that other people don't also have the same mental disorders. - Danneskjold 2018

  • Don’t skip payments if you don’t absolutely need to.


    Good way to bring about another housing bubble bust.

    You will make up any skipped payments, eventually, one way or another. Best to tighten up everything and keep making your payments. Saw a guy selling his Harley, because he got laid off. No sympathy here, UPS, FedEx, Amazon, Walmart, and every warehouse and grocery store are hiring. Might not be the job you want, or the job you like, but you can work, and keep your shit.

  • Backyard Commandos INC, HMFIC


    I disagree but I respect your right to be stupid.


    Winners focus on winning, losers focus on winners.


    It's hard for liberals with mental disorders to think that other people don't also have the same mental disorders. - Danneskjold 2018

  • Yeah well,

    Considering the direction rates have gone, a few extra months of pre epidemic accruals is good for the balance sheet. Unless it all goes to FNMA. Not sure what the secondary market handles that shit. I doubt servicers are floating the deferrals.