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Author Topic: Cares act mortgage forbearance and refinancing  (Read 465 times)

Offline harshadgowda

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Cares act mortgage forbearance and refinancing
« on: July 24, 2020, 12:13:40 am »
My parents interest rate is 6% and they have 13 years left on their 30 yr loan. They are paying $2,600+ per month. They have a Freddie mac loan. They are looking to refinance the loan in the future and I am looking into the mortgage forbearance from the cares act.

Based off this information can anyone tell me what they would do if they were in this situation.

The $32,000 would be spent to prevent me from having to take out student loans, maybe invested in index funds, or my parents would fund the remodel once I get an FHA loan on a house next year

Im only 19 so please dumb down the comments, thank you. And im not sure if this is considered real estate investing, but I dont know where else to go.

« Last Edit: July 24, 2020, 09:40:08 am by Mdhaas »

Offline javipa

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Re: Cares act mortgage forbearance and refinancing
« Reply #1 on: July 24, 2020, 11:54:01 am »
My parents interest rate is 6% and they have 13 years left on their 30 yr loan. They are paying $2,600+ per month. They have a Freddie mac loan. They are looking to refinance the loan in the future and I am looking into the mortgage forbearance from the cares act.

Based off this information can anyone tell me what they would do if they were in this situation.

The $32,000 would be spent to prevent me from having to take out student loans, maybe invested in index funds, or my parents would fund the remodel once I get an FHA loan on a house next year

Im only 19 so please dumb down the comments, thank you. And im not sure if this is considered real estate investing, but I don't know where else to go.

This post makes no sense.
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