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New Covid-19 payment reporting?

Nomad3
Frequent Contributor

Re: New Covid-19 payment reporting?


@M_Smart007 wrote:

@pinkandgrey wrote:

Interesting. It does seem like most lenders/creditors are factoring this in when it comes to repayment. 


One would hope so.


Pretty sure they will expect everything due the second the "disaster" is lifted. Same will probably be true with rent, they might let you skate during the disaster then expect the full 2 or 3 months rent/payments immediately.

 

Hopefully I'm wrong, but I'm not trying to find out personally

 




Goal: Mortgage/Chase Trifecta






Message 11 of 14
M_Smart007
Epic Contributor

Re: New Covid-19 payment reporting?


@Nomad3 wrote:

@M_Smart007 wrote:

@pinkandgrey wrote:

Interesting. It does seem like most lenders/creditors are factoring this in when it comes to repayment. 


One would hope so.


Pretty sure they will expect everything due the second the "disaster" is lifted. Same will probably be true with rent, they might let you skate during the disaster then expect the full 2 or 3 months rent/payments immediately.

 

Hopefully I'm wrong, but I'm not trying to find out personally

 


@Nomad3  It will surely be interesting, once the dust settles.




Message 12 of 14
krielly
Established Contributor

Re: New Covid-19 payment reporting?


Pretty sure they will expect everything due the second the "disaster" is lifted. Same will probably be true with rent, they might let you skate during the disaster then expect the full 2 or 3 months rent/payments immediately.



It may be hard to believe, but some of us landlords are in the same shoes.....My tenant's rent is a source of income for me. DH has been laid off since before xmas. He's usually back to work in February, but because of the crisis, is still out of work. 

 


You can't have your cake and eat it too. But you can dip your finger in the bowl and lick the icing!
Message 13 of 14
StephStamper
Frequent Contributor

Re: New Covid-19 payment reporting?

I was looking for an answer on this myself.  I want to defer some stuff but I am very worried about credit reporting.  Once there is a ding, its impossible to tackle.  I dont have any trust in this that this will actually be safe to defer payments and it not impact credit score / missed payments at all.

 

Message 14 of 14
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