Home > Loan Deferrals ~ Be Careful

Loan Deferrals ~ Be Careful

April 1st, 2020 at 02:06 pm

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

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Bank of America fields 150,000 payment deferral requests, but some customers call mortgage relief ‘misleading’
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2 Responses to “Loan Deferrals ~ Be Careful”

  1. creditcardfree Says:

    I'm sure some people learned from 2008, but I really am hoping more wakeup about finances! Something good has to come out of this.

  2. GratefulSaver Says:

    We are prepare to pay the mortgages well into the summer for all our rental homes. People who are not prepare to cover their mortgage in case of a job loss or situations like these should not purchase a home. Unfortunately, bad things are bound to happen.

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