- Nov 12, 2001
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I am out of work as many here are today because of the covid19 stay at home orders. I am a single dad that has 2 girls that I have to provide for.
I called my mortgage company, Rocket mortgage aka Quicken loans to see if I could put the next 3 months payments at the back end of my loan. They replied they would let me skip the next 3 payments but required me to make a balloon payment in 4 months or they would have to foreclose on my loan. I declined their offer.
"Edit" Please if you are going through this with your mortgage company, post here about your experience. I can't be the only one going through this mess.
I called directly and asked who owns my mortgage and was told it was held by Fannie or Freddie Mac. Hopefully I will be able put the 3 months on the backside of the loan. I will update when I get more information.
Do not agree to a 3 month balloon payment until you have exhaustively checked all of your alternatives.
I called my mortgage company, Rocket mortgage aka Quicken loans to see if I could put the next 3 months payments at the back end of my loan. They replied they would let me skip the next 3 payments but required me to make a balloon payment in 4 months or they would have to foreclose on my loan. I declined their offer.
"Edit" Please if you are going through this with your mortgage company, post here about your experience. I can't be the only one going through this mess.
I called directly and asked who owns my mortgage and was told it was held by Fannie or Freddie Mac. Hopefully I will be able put the 3 months on the backside of the loan. I will update when I get more information.
Do not agree to a 3 month balloon payment until you have exhaustively checked all of your alternatives.
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