Important info for Landlords who may get squeezed by Covid19

[Keith C.]

Please take Note :

Landlords who have non Fannie or Freddie loans may find themselves stuck between a rock and a hard place . The govt requires All landlord’s to allow tenants extensions in making rent payments -

However if they have a loan with a non regulated lenders — the lenders don’t have to oblige.

Only conventional loans under government guidelines are required to allow borrowers mortgage extension.

For any borrower who heard from from a servicer that they don’t have to pay and they will not be marked as late. — The borrower needs to understand other terminologies used by servicers reporting to credit bureaus, such as “Paid not as agreed” etc.

All Borrower should get something in writing from the servicer indicating that their will be no adverse reporting whatsoever.

The next few months will certainly get interesting