Tag: Forbearance

Refinancing to Pay off Debt After Forbearance

Question: My client requested a 3-month forbearance and has now completed that.  How many payments does he need to make in order to refinance and consolidate other debt accrued during COVID? MC Chart – FHA Forbearance Eligibility Answer: A borrower who is paying off debt with an FHA refinance would do so using the Cash […]

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Fannie Mae & Freddie Mac – December Updates FAQs for COVID – NEW Mortgage Forbearance Chart – All Agencies

Written by: Lloyd Rutherford, Staff Writer Trying to keep up with guideline changes can be challenging in normal environments.  Throw in COVID and now we have another layer to be concerned with.  Stay up to date on our monthly updates from the agency FAQs to learn what has changed. NEW Mortgage Forbearance Chart – All […]

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Payments Made After Forbearance Eligibility

Question: My client came out of forbearance and has made 2 payments.  He states that the deferred payments were added to the end of his loan.  He would like to sell this home and buy another one.  What are the requirements in order to do this? Answer: Here you go. Attachment included also. He needs […]

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Client Co-Signed a Loan Now in Forbearance

Question: Our client co-signed a home loan for her sister who is now in forbearance.  Normally, I would use a 12-month payment history to offset the payment, but that is not possible.  The sister has offered to bring the mortgage current, will that work? NEW MC Mortgage Talking Points™ – Tips for Clients in Mortgage Forbearance […]

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Fannie Mae – Student Loan Debt Requirements – Scenarios and FAQs – September 2020

Written by: Lloyd Rutherford, Staff Writer Student loans is the number one search item on the Mortgage Currentcy website.  We suspect that with COVID-related Forbearance issues, this topic will become even more important.  Fannie Mae has done an excellent job reviewing student loan scenarios and how to count the debt.  This article is a must […]

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