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Forbearance Question

  • Thread starter Thread starter sparklingtp
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S

sparklingtp

Guest
Question on repayment plan

What is the name of your state?FL
If I am currently on a repayment plan with my lender, can I refi?
I am asking so we could pay off the repayments and other bills.
 
Last edited:


M

MortgageGuru

Member
There are very few lenders that will consider refinancing you at this time. You will need a bare minimum of 6 months with no late payments on the plan. More lenders will consider it after 1 year of no mortgage late payments. Right now there is only one thing you can do to help yourself out of the situation and that is to not be late on any payment on anything you owe on. Re-establish a good payment history on all of your tradelines. Your credit scores will see a good increase after a minimum 6 months of good payment history. Get a copy of your credit reports and make sure everything is reporting accurately. Stay disciplined to a budget in order to get through the next several months. Do not seek additional trade lines if at all possible. Drink two beers and call me in 6 months.
 
S

sparklingtp

Guest
Repayment Question

Thank You-
We have not been late but its only been 4 months.
 
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