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Updated over 4 years ago,

User Stats

16
Posts
1
Votes
Simrun Mirchandani
  • Tampa, FL
1
Votes |
16
Posts

Should I take Forbearance to pay down student debt?

Simrun Mirchandani
  • Tampa, FL
Posted

I am currently in grad school working on my MBA, and have been paying tuition as I go as much as I can. If I am able to put my mortgage in forbearance just for 3 months, I will graduate completely debt free by allocating that cashflow towards paying tuition. I dont plan to purchase my next property till  Q1 2021, therefore my credit will be back to normal with more than enough time. I also read that once out of forbearance, 3 consecutive payments will be needed and lenders will be able to lend to me again, which would be Oct 2020. I've been researching the pros and cons, but to me this still seems like a smart move to move the 3 payments to the back of the loan, I just want to make sure my payment doesnt increase to much as this property will cashflow hard once its turned into a rental. What do you guys think?   

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