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A bit of relief..

A bit of relief..

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by: DaycareMom Active Indicator LED Icon 11 OP 
~ 4 years ago   Apr 2, '20 12:47pm  
A bit of relief..
 
My mortgage company is suspending my house payment for at least 3 months. No late fees will be incurred however I am sure interest will still be applied. This is a HUGE break for me and so far the only bill I pay that has offered suspension.
 
Hopefully most of y'all have caught some bill breaks..
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TexanFan1 Active Indicator LED Icon 14
~ 4 years ago   Apr 2, '20 12:48pm  
@DaycareMom : That's Awesome for you!!!💕
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West-Tex Active Indicator LED Icon 13
~ 4 years ago   Apr 2, '20 12:52pm  
@DaycareMom :
 
Good news! 😊
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cbp210 Active Indicator LED Icon 12
~ 4 years ago   Apr 2, '20 12:54pm  
@DaycareMom :
 
Is that Mortgage Forebearance or Deferrment? Big difference between those two.
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Ladyfairlane Active Indicator LED Icon 7
~ 4 years ago   Apr 2, '20 12:58pm  
Candy Crush Saga is giving free lives!Emoticon
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BusyMommy Active Indicator LED Icon 14
~ 4 years ago   Apr 2, '20 1:46pm  
That's awesome. I know after Harvey we asked the mortgage company of we could skip a month and add it to the end and the best they would do is skip a month and pay for the skipped payment in 90 days. Glad to hear they are actually helping people now.
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realtor_nancy Active Indicator LED Icon 1
~ 4 years ago   Apr 2, '20 2:08pm  
Awesome news for you!!
 
Many lenders are doing great things, and I have to preface this with my standard disclaimer, I am not providing legal guidance, I am not an attorney, and I am not offering real estate agent representation, just providing a little common sense general public reminders.
 
When talking with your lenders ask as many questions as you can think of and know exactly what your lender is providing, and don't assume anything. What are they calling the payment waiver, will any interest accrue, are there any fee's what so ever, will any late payments be reported to the credit bureaus, will anything at all be reported to the credit bureaus, will anything at all change with my loan with the exception of the my skipped payments. So glad to see many lenders stepping up and doing the right thing, but just ask as many questions as you can, and if you don't understand something, ask them to explain it again.
 
Much love to all of you at ADC. Stay safe.
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ParksideRes Active Indicator LED Icon 7
~ 4 years ago   Apr 2, '20 2:23pm  
@DaycareMom : did you ask or just gifted the option?
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Sammee Active Indicator LED Icon 11
~ 4 years ago   Apr 2, '20 2:54pm  
@DaycareMom : Wow! That's wonderful! I haven't seen any offers coming my way.
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DaycareMom Active Indicator LED Icon 11 OP 
~ 4 years ago   Apr 2, '20 3:45pm  
@ParksideRes : I happened to log in and there was a link to click if you needed assistance. I filled out the info and they automatically approved me for 3 months deferment.
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ladybeachbum Active Indicator LED Icon 16
~ 4 years ago   Apr 2, '20 3:46pm  
@DaycareMom : That is good. I've heard some are saying no.
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DaycareMom Active Indicator LED Icon 11 OP 
~ 4 years ago   Apr 2, '20 4:01pm  
DaycareMom : Is that Mortgage Forebearance or Deferrment? Big difference between those two.
 
@cbp210 : I believe deferment.. they will tack the missed payments on to the end of the loan
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DaycareMom Active Indicator LED Icon 11 OP 
~ 4 years ago   Apr 2, '20 4:05pm  
@realtor_nancy : great advice. They did explain in detail that this will not affect me negatively in any way.. no late fees, no dings on my credit.. just their way of helping with the hardship. Very impressed with Wells Fargo
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DaycareMom Active Indicator LED Icon 11 OP 
~ 4 years ago   Apr 2, '20 4:07pm  
Candy Crush Saga is giving free lives!
 
@Ladyfairlane : Girl I gave up on that game finally!!
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realtor_nancy Active Indicator LED Icon 1
~ 4 years ago   Apr 2, '20 5:28pm  
@DaycareMom : That's so awesome. Most of the time lenders are really great, and I'm so glad you received that relief. Stay safe.
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sandman Active Indicator LED Icon 16
~ 4 years ago   Apr 2, '20 5:41pm  
Strip club offered a deferment... but I said none is needed and pledged to double my business once the 6 ft restrictions are lifted.
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