Hi -

I took a forberance on my mortgage payments. If I have the option to put my missed payments on the back end of my loan, what are the pros and cons??

leon harris

Original Post

Cons:

Longer mortgage term.

Interest Accrues 

You may not be able to refinance with mortgage forbearance. 

You could face foreclosure if you can't pay your mortgage after the forbearance. 

Forbearance is a temporary fix only, if you can't afford your mortgage. 

Pros:

Relief from not paying mortgage, so you could free up additional monies.

 

 

 

 

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