Bank forebearance-any updates more thoughts?

[Gloria C.]

Now that we’ve been in this crisis for weeks is there any new thoughts on if mortgage forebearance is actually a good strategy or if the risk of future implications is too risky if you’ll be trying to get loans in future? All thoughts appreciated. Thanks!

[Chris Seveney]

@Gloria Cloud Vega

If you can afford the payments then make the payments, if you cannot then consider a forbearance. That simple.

If you are thinking “should I get a forbearance to save $ even though I can afford payments?” This continues to be a head scratcher for me, as how much $ are you truly saving and what are you using it for? Pay off a credit card or higher interest debt? Looks good on paper and not a bad idea for some but if you try and finance another property down the road this will be scrutinized.