Wtf is going to happen when they stop the extensions? Prob 9/10 homeowners I know haven't touched their mortgage payments since covid started. How are we supposed to get our credit in check with all that shit to pay off? These thoughts keep me up at night 😔
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It’s my understanding that by deferring mortgage payments for a year, the payments and interest are tacked on to the end of their mortgage. Instead of the mortgage being paid up in, for example, 20 years, it will now be 21 years plus extra time for the interest. Pls correct if I have this wrong.
Nope..bot at the end of mortgage..at end of forebearance period...SOME lenders ha e done separate program that extends (like my employer)...but for ppl using the standard gov plan..they will be fuxxed