My instinct when seeing the loan deferrals was kind of *meh*. You know you are just prolonging the inevitable, adding interest to the loans, etc. I totally understand from a desperate standpoint. But I guess I am kind of skeptical if it really helps or just kicks the can down the road. Maybe that was my initial *meh* feeling. Does it help people (who need help) or does it just dig their holes deeper?
Well here's some salt to add to the wound. Sharing as an FYI to just be careful.
People deferring their mortgage payments are making an unpleasant discovery: it can wreck your credit rating
Bank of America fields 150,000 payment deferral requests, but some customers call mortgage relief ‘misleading’
https://www.cnbc.com/2020/03/27/bank-of-americas-mortgage-de...
April 1st, 2020 at 02:39 pm 1585751983
April 1st, 2020 at 08:48 pm 1585774134