Author Topic: Residential Mortgages  (Read 6158 times)

Offline zagguru

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: May 2014
  • Posts: 2861
  • Total likes: 118
  • DansDeals.com Hat Tips 70
    • View Profile
Re: Residential Mortgages
« Reply #75 on: June 07, 2020, 07:38:48 PM »
Closing in on the end of the 90 day deferment. Got this message from chase:

Quote
To help bring this mortgage up to date, we can defer unpaid amounts to the end of the mortgage.
How this offer works
We'll defer unpaid principal and interest amounts to the end of the mortgage.
The deferred amount will come due in a single payment at the end of the mortgage, called a "balloon payment". We won't charge interest on the balloon amount. If you pay off the mortgage early, you'll need to pay the deferred amount then.
We didn't assess late fees during your assistance period. However, any previous outstanding late fees will remain on the account.
We'll continue to provide payment assistance while we process your request.
Once we finish processing we'll mail you a confirmation with the deferred amount, and regular monthly payments will resume.

Thoughts? I smell that this would neg impacting credit and future lending.

Offline TBD

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Nov 2014
  • Posts: 972
  • Total likes: 122
  • DansDeals.com Hat Tips 1
    • View Profile
  • Location: United States
Re: Residential Mortgages
« Reply #76 on: July 07, 2020, 02:01:56 PM »
https://www.tdbank.com/exc/pdf/Forbearance%20Plans-FAQs.pdf

How will a Forbearance Plan impact my credit?
We will report information about the Forbearance Plan to credit reporting agencies; the account will be reported as “current”
for the Forbearance Plan period. If you are delinquent before the Forbearance Plan starts, the account will be reported with
that delinquency unless or until the account is brought current. Credit reporting agencies compile your credit report and credit
score. We are uncertain of the impact of reporting your account in forbearance on your credit report and credit score but will
take steps to minimize any negative impacts during the Forbearance Plan.

Offline simple26

  • Dansdeals Platinum Elite
  • ****
  • Join Date: Jul 2018
  • Posts: 272
  • Total likes: 45
  • DansDeals.com Hat Tips 2
    • View Profile
Re: Residential Mortgages
« Reply #77 on: July 12, 2020, 02:25:53 AM »
How long do these forbearance notes stay on?
Can anybody comment on this ?
Does it disappear when when the forbearance period is over or stay on for x amount of time?

Offline Moishy123

  • DansDeals Copper Elite
  • *
  • Join Date: Jan 2021
  • Posts: 7
  • Total likes: 2
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: NJ
Re: Residential Mortgages
« Reply #78 on: February 16, 2021, 12:42:55 AM »
Anyone with actual experience after finishing his forbearance How the bank proceeded? Did they request lump sum? pushed it off till the end of the mortgage?

Online Lurker

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Jul 2019
  • Posts: 3881
  • Total likes: 3800
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: As always, silence is NOT an admission of agreement on DDF. It just means that people lack the stamina to keep on arguing with made up "facts", illogical arguments, deceiving statements, nasty and degrading comments, and fuzzy math. - @yelped
Re: Residential Mortgages
« Reply #79 on: March 07, 2021, 04:39:15 PM »
Bumping this, because I wasn't following the other thread and I'm sure I'm not the only one:

Foreclosure and Forbearance Expansion

President Biden has extend and expanded foreclosure and forbearance options for homeowners through June:

-Foreclosure moratorium extended
-Forbearance enrollment deadline extended
-Additional 6 months of forbearance available

Details in my signature block below.
When you find yourself agreeing with me more often than not, it's time for a cheshbon hanefesh.

Offline dovy2

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Oct 2012
  • Posts: 1933
  • Total likes: 57
  • DansDeals.com Hat Tips 24
    • View Profile
Re: Residential Mortgages
« Reply #80 on: March 07, 2021, 07:10:19 PM »
Anyone with actual experience after finishing his forbearance How the bank proceeded? Did they request lump sum? pushed it off till the end of the mortgage?
I am with us Bank, I had the whole lump sum pushed till the end interest fee.. it's basically a second separate loan only due in 30 years (I didn't finish my first year yet)

Online yesitsme

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Dec 2014
  • Posts: 3261
  • Total likes: 989
  • DansDeals.com Hat Tips 4
  • Gender: Male
    • View Profile
Re: Residential Mortgages
« Reply #81 on: March 07, 2021, 07:11:18 PM »
*interest free

Online yesitsme

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Dec 2014
  • Posts: 3261
  • Total likes: 989
  • DansDeals.com Hat Tips 4
  • Gender: Male
    • View Profile
Re: Residential Mortgages
« Reply #82 on: March 07, 2021, 07:11:42 PM »
Anyone with actual experience after finishing his forbearance How the bank proceeded? Did they request lump sum? pushed it off till the end of the mortgage?
Depends on the Lender

Offline TBD

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Nov 2014
  • Posts: 972
  • Total likes: 122
  • DansDeals.com Hat Tips 1
    • View Profile
  • Location: United States
Re: Residential Mortgages
« Reply #83 on: March 07, 2021, 08:44:23 PM »
Depends on the Lender
Anyone with experience by TD Bank?

Online Lurker

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Jul 2019
  • Posts: 3881
  • Total likes: 3800
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: As always, silence is NOT an admission of agreement on DDF. It just means that people lack the stamina to keep on arguing with made up "facts", illogical arguments, deceiving statements, nasty and degrading comments, and fuzzy math. - @yelped
Re: Residential Mortgages
« Reply #84 on: March 16, 2021, 10:37:20 AM »
Does anyone have more info on the Homeowners Assistance Fund? @cgr?

ETA: That may not be the right program. I'm looking for info on the $10B that is supposed to be given to the states to help pay off deferred mortgage payments.
When you find yourself agreeing with me more often than not, it's time for a cheshbon hanefesh.

Online cgr

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Aug 2017
  • Posts: 2949
  • Total likes: 605
  • DansDeals.com Hat Tips 4
    • View Profile
Re: Residential Mortgages
« Reply #85 on: March 16, 2021, 11:41:41 AM »
Does anyone have more info on the Homeowners Assistance Fund? @cgr?

ETA: That may not be the right program. I'm looking for info on the $10B that is supposed to be given to the states to help pay off deferred mortgage payments.
Based on what I read in the bill, it's not money that will ever be available to the masses.
-it's only 10B
-it's available til 2027
-it can be used for mortgage awareness and education