BEWARE – Why I Cancelled My Mortgage Loan Forbearance Offer

Latest Videos Relevant with Mississauga Mortgage, Bridging Loan, Bad Credit Home Loan, Reverse Mortgage Lenders and Garland Mortgage Lenders, BEWARE – Why I Cancelled My Mortgage Loan Forbearance Offer.

Why I Cancelled My Mortgage Loan Forbearance Offer – The CARES Act // After learning about some MAJOR pitfalls of the mortgage forbearance agreement and program, I decided to decline my forbearance mortgage offer from my real estate loan servicer. In this video, I discuss what is mortgage forbearance which is part of the COVID CARES Act, how this may affect our housing market 2020 and could this cause a housing bubble or housing market crash 2020. What’s particularly concerning is loan forbearance varies to some extent from lender to lender. For example, one loan servicer may offer 3 months of no mortgage payment while another offers 6 months.

A $0 mortgage payment for several months may sound enticing but there are some disadvantages of not paying your mortgage including a POTENTIAL negative impact on your credit score.

So, if you’re curious what is loan forbearance or what is mortgage loan forbearance as part of the 2020 CARES Act, the pros and cons of what is forbearance, then this video is for you.

Comment below with any questions! Do you think this may cause a housing crash 2020 for our country as well as our California housing market?

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Jason Walter (Sacramento Realtor and native)
Sacramento CA
jason@meetjasonwalter.com
DRE #01923240
Realty ONE Group Complete
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Disclaimer:
Jason Walter is not a practicing CPA or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified CPA, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video – it is for entertainment purposes only.

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Hr 3915 – Will It Put Mortgage Brokers Out Of Company?

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Merrill Lynch’s $8.4 billion write-down on home mortgage associated securities was a surprise to the majority of experts. Regrettably, I think more losses are coming. By my estimation, the subprime home mortgage disaster could be a $300 billion problem for house mortgage lenders and holders of mortgage-related securities, almost two times the size of the savings and loan crisis that unfolded in the U.S. in the ’80s and ’90s.

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Legal Charges – when acquiring or re-financing a residential or commercial property, an attorney gets included and you will incur legal costs. An attorney can explain more to you about the breakdown of costs which can consist of legal representative standard costs & disbursements, property tax and other changes, land title costs, perhaps title insurance coverage requirements, etc.

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Prior to you begin re-financing, find out what your credit looks like. How They Make a Revenue – Lenders make an earnings all four methods mentioned above. This might equate in their rates they offer their clients.