Author Topic: Residential Mortgages  (Read 12237 times)

Online yelped

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Offline joeb1

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Re: Residential Mortgages
« Reply #41 on: April 19, 2020, 09:42:12 PM »
I propose they should give everyone a centurion card with no spending limit
Nearly as ridiculous

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Re: Residential Mortgages
« Reply #42 on: April 19, 2020, 11:42:47 PM »
Remark Added to Account

Remarks are meant to make your report more clear. If you're not sure what this remark means or where it came from, you can contact your creditor or the credit bureau for more information.

Between April XX, 2020 and April XX, 2020 the following remark was added to this account:

Payment deferred

Offline Palm5

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Re: Residential Mortgages
« Reply #43 on: April 20, 2020, 12:09:44 AM »
Remark Added to Account

Remarks are meant to make your report more clear. If you're not sure what this remark means or where it came from, you can contact your creditor or the credit bureau for more information.

Between April XX, 2020 and April XX, 2020 the following remark was added to this account:

Payment deferred

And I assume no point drop correct?

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Re: Residential Mortgages
« Reply #44 on: April 20, 2020, 12:17:28 AM »
And I assume no point drop correct?
Correct. What's the actual fallout of a remark like this?

Offline Palm5

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Re: Residential Mortgages
« Reply #45 on: April 20, 2020, 12:47:12 AM »
Remarks are reviewed by underwriters when applying for credit/debt. This unique time period is obviously explainable. I’m of the opinion that it won’t effect anything if there are no delinquent remarks.

Offline zagguru

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Re: Residential Mortgages
« Reply #46 on: April 20, 2020, 07:36:56 AM »
Remark Added to Account

Remarks are meant to make your report more clear. If you're not sure what this remark means or where it came from, you can contact your creditor or the credit bureau for more information.

Between April XX, 2020 and April XX, 2020 the following remark was added to this account:

Payment deferred

Is this for the 3 month deferment or for the 1 year forbearance?

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Re: Residential Mortgages
« Reply #47 on: April 20, 2020, 08:58:53 AM »
Is this for the 3 month deferment or for the 1 year forbearance?
3 mos

Offline zagguru

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Re: Residential Mortgages
« Reply #48 on: April 20, 2020, 12:24:11 PM »

Offline shulem92

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Re: Residential Mortgages
« Reply #49 on: April 28, 2020, 02:55:37 PM »
any updates on this? my mortgage company let me do forbearance on a month by month basis, they have to approve me every month. my mortgage company is owned by freddie mac. Do i have to be worried about my credit if i do this forbearance?

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Re: Residential Mortgages
« Reply #50 on: April 28, 2020, 03:25:20 PM »
my mortgage company is owned by freddie mac.
If it's a Freddie Mac mortgage they're supposed to give you 180 days, with the ability to extend for another 180 days. You do not have to supply any supporting documentation to prove hardship, as long as you certify their forbearance agreement that you are.

They're taking you on a ride here...

Offline shulem92

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Re: Residential Mortgages
« Reply #51 on: April 28, 2020, 03:35:30 PM »
If it's a Freddie Mac mortgage they're supposed to give you 180 days, with the ability to extend for another 180 days. You do not have to supply any supporting documentation to prove hardship, as long as you certify their forbearance agreement that you are.

They're taking you on a ride here...
thanx. could be because i "applied around a month ago" before all the details of the cares act were available. when i call in to recertify next month i will definitely ask them about it

Offline Yef

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Re: Residential Mortgages
« Reply #52 on: April 28, 2020, 03:58:53 PM »
How do you find out if your mortgage is backed by Freddy or fanny?

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Re: Residential Mortgages
« Reply #54 on: April 28, 2020, 04:22:54 PM »
I tried this link once and it didn’t lead to a list or search option per bank

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Re: Residential Mortgages
« Reply #55 on: April 28, 2020, 04:39:35 PM »

Offline Mo2

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Re: Residential Mortgages
« Reply #56 on: April 28, 2020, 07:05:00 PM »
From my bank (53.com):

Mortgage: Up to 180-day payment forbearance with no late fees.* 
Mortgage customers in need of assistance have three options at the end of the forbearance period:

1. Make a lump sum payment after the forbearance period expires.

2. Agree to a repayment plan with our hardship team.

3. Be evaluated for loan modification workout options to move missed payments to the back of loan, extending the loan term.

 *Interest will accrue during the forbearance period for products where payments are being deferred or waived
Common sense is not a gift, it is a punishment.
Because you have to deal with everyone who doesn't have it.

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Offline YesThatsMe

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Re: Residential Mortgages
« Reply #58 on: May 04, 2020, 08:53:26 AM »
Did anyone try getting their bank to lower their interest rate now (threaten to refi with another lender, rates are 3.2%)?

Offline Mo2

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Re: Residential Mortgages
« Reply #59 on: May 04, 2020, 11:35:52 AM »
Did anyone try getting their bank to lower their interest rate now (threaten to refi with another lender, rates are 3.2%)?
is that a real possibilty?
Common sense is not a gift, it is a punishment.
Because you have to deal with everyone who doesn't have it.