Makes you wonder right! I mean the cares act itself made this program available and it still leaves a mark. But if it leaves a mark on students I think a mark on that kind of debt is not weighed as heavily as your mortgage. But I wouldn't be surprised if they leave a "comment" on your report as well.
Normally a 30 year loan gives you more opportunity to grow your wealth since the interest rates are so low on the 30 years. you can use that money to grow something else.
Good video with good suggestions. That's the main reason why I just did a refinance done few weeks ago. Now I need to make a 1st payment so I was wondering if I can ask my lender that if I can do forbearance. Do you have any idea?
Hmmm. Interesting question, but makes sense if this was the necessary plan. I know that for now the loan has to be federally backed. But basically in order to ask you just reach out to your loan servicer (whoever sends you the mortgage payment every month) like you would anyway and go from there. If you've found this to be the best tool, then here's a step by step video I did on obtaining forbearance. I made this before I was aware lenders were commenting on the credit reports. th-cam.com/video/tBwKdcles6o/w-d-xo.html Hope it helps!
Great video! I am trying to refi and the Loan Forbearance appear on my credit and they don't want to refi my loan. I will pay off my back payments to keep it up to date. Question: Should I request for a proof and ask them to provide me a letter that I am out of forbearance?
Personally, I get everything in writing. I don't personally see an issue with asking. You can also look at your credit report in a month or so to see if anything is on your credit report.
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Thanks for the video! I wasn’t sure how forbearance would affect me. I’ve been hearing a lot of different stuff. So this was helpful!
Glad it was helpful!
So I wonder if they would note the automatic federal student loan forbearance on our credit reports.
Makes you wonder right! I mean the cares act itself made this program available and it still leaves a mark.
But if it leaves a mark on students I think a mark on that kind of debt is not weighed as heavily as your mortgage.
But I wouldn't be surprised if they leave a "comment" on your report as well.
Why are 15 year mortgages not as good? Half the number of years!
Normally a 30 year loan gives you more opportunity to grow your wealth since the interest rates are so low on the 30 years. you can use that money to grow something else.
That loan provider on the phone was very careful with her language. It will be interesting to see if anyone chooses to pursue a suit.
Ughhh part of me wants someone to. If anything they could either wipe the comment somehow or give us our refi fees back!
Good video with good suggestions. That's the main reason why I just did a refinance done few weeks ago.
Now I need to make a 1st payment so I was wondering if I can ask my lender that if I can do forbearance. Do you have any idea?
Hmmm. Interesting question, but makes sense if this was the necessary plan.
I know that for now the loan has to be federally backed. But basically in order to ask you just reach out to your loan servicer (whoever sends you the mortgage payment every month) like you would anyway and go from there.
If you've found this to be the best tool, then here's a step by step video I did on obtaining forbearance. I made this before I was aware lenders were commenting on the credit reports.
th-cam.com/video/tBwKdcles6o/w-d-xo.html
Hope it helps!
Great video! I am trying to refi and the Loan Forbearance appear on my credit and they don't want to refi my loan. I will pay off my back payments to keep it up to date. Question: Should I request for a proof and ask them to provide me a letter that I am out of forbearance?
Personally, I get everything in writing. I don't personally see an issue with asking. You can also look at your credit report in a month or so to see if anything is on your credit report.