Is it ok to defer one mortgage given my financial situation?
As a homeowner, I have a solid 6-year track record of making mortgage payments on time. However, I am currently experiencing some financial difficulties and am exploring the option of deferring one mortgage payment. Unfortunately, my lender is making the process more challenging than anticipated, and I am unsure if I should continue with my request. I am concerned about the potential consequences that may arise if I push through with this. What should I do in this situation? by chris744 from Anaheim, California. May 23rd 2023
Dave Skow (daveskow)
#15 ranked lender in Washington - 455 contributions
thanks - sorry to hear this - definitely continue to work with the present lender on any options they can offer ..ask if they can put your loan into " forebearance " which will allow a short period of time you dont need to make any payments ....these missed payments are then normally tacked onto the back of the loan ...if you are having issues with the person you are talking to now - maybe ask for another person or supervisor or jsut dial in and start the request again - good luck Dave Skow | Loan Officer Movement Mortgage NMLS 278613 Dave.skow@movement.com Mobile (206) 714-9745
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,843 contributions
Whatever happens, do yourself a favor, and do not make a late payment if at all possible. Borrow from 401k, friends, family... Sell something, or work with a challenging process with your current lender... Also make sure that working with the lender, that that does not reflect as any sort of late payment on your credit. Good luck. I lend in FL, MN, WI, IA, ND, and SD. Find me at Joemetzler.com/apply | Cambria Mortgage, NMLS 274132
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