Quote:
Originally Posted by Calli09  Good morning all! Ok, now after reading the beware post about my "possible" forebearance, I am kind of concerned. Would it be better to just miss 3 payments, do no forebearance, then request a mod?
I have not spokent to an analyst yet, was going to call for an update today, and to ask a few more questions regarding the forebearance, like will they report it to credit bureau, and also ( most importantly) should I pay some or any of my this months pmt? Its due by 2-15. I am still out of work. But now, wonder if I should just call my atty, and let him sort this out.
I feel like if I agree to this "forebearance" I am setting myself up to be stuck with no chance of a mod, then also owing more than my current payment, to catch up, which I can not do, which would make me default anyway. I truly could use the int rate reduction a mod could provide me, in order for me to stay here. From experience, what do you think I should do regarding my 2-15 payment. I am current up to now, still no job. |
I am still not seeing how it is better to just miss payments then to go into forbearance. If you miss payments you will still be responsible for them plus any late fees and anything else associated with going into default.
With forbearance, they should be able to freeze your credit and should not charge you any late fees or any other fees, that is the point of it... of course you should confirm this information with you analyst and possibly get it in writing.