Loan Modification Forum - LoanSafe.org - View Single Post - Modification? Forebearance? I'll Flip a Coin!

Calli09 · 01-31-2009, 02:52 PM

Thank you for the answer. I went to the link. The part of the link that scares me is
Forbearing on a portion of the principal, which will require the borrower to make a balloon payment when the loan matures, is paid off, or is refinanced.
Balloon pmt is not a good thing.
So, do I have no pmts for 3 mos, then this, or pay until I hear from them. Things are getting tight. Also what are all of your opinions on forebearance vs. modification? Any thoughts?

01-31-2009, 02:52 PM	#3 (permalink)
Calli09 Senior Member Join Date: Jan 2009 Posts: 114 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Modification? Forebearance? I'll Flip a Coin! Thank you for the answer. I went to the link. The part of the link that scares me is Forbearing on a portion of the principal, which will require the borrower to make a balloon payment when the loan matures, is paid off, or is refinanced. Balloon pmt is not a good thing. So, do I have no pmts for 3 mos, then this, or pay until I hear from them. Things are getting tight. Also what are all of your opinions on forebearance vs. modification? Any thoughts?