If you were impacted by COVID-19 and needed to exercise a Forbearance on your present mortgage, you have a couple of options when it comes to buying or refinancing a home. Option One: If you have a repayment plan and you made at least 3 timely payments, you can refinance or purchase a new home. Option Two: If you repaid the outstanding payments from the forbearance, then there is no waiting period. I’m here to help guide you through your situation, so let’s talk!
Related Article Title: Purchasing or Refinancing with a Loan in Deferment Question: When can a client purchase or refinance if their loan is in forbearance? Answer: Following are the requirements for forbearance. There are two possibilities here : Under the agencies’ temporary eligibility guidelines, homeowners who missed payments and entered into a loss mitigation solution– […]