Loan Payment Deferments

[David Dachtera]

This came up on Facebook today ...

"Just got a 3 month deferment on my mortgage, all I had to do was call the bank. Call your banks people, so you won't have to put your renters between a rock and a hard place."

I'm not "friends" with the person who posted it. Could be an option for those with bank / institutional loans.

Dunno if other types of lenders would be receptive ...

[Nik Moushon]

Never hurts to ask but this is going to vary A LOT depending on the lender and what state you are in. 

There are still a lot of unanswered questions regarding the feds hold on evictions and foreclosures. Do you get penalized still if you dont make a payment? Is it an interest only payment? Does it only apply to primary? Is it only FHA loans? Does this apply to only those directly effected by the virus? etc etc.

I think there is good intentions here but a lot of holes that need to be filled in for a lot of people in a lot of different scenarios. I'm sure we will get more clarity in the next week or two.