Tagmortgage solutions

6 month mortgage deferral will help, not harm, despite what media say.

We’ve all heard about the 6 month deferred mortgage payment option.  It was thrown out there by the government in an attempt to help property owners.  We now have some more info that I’d like to share.

I’m getting a little sick and tired of the media being so negative and pessimistic.  The banks and other financial institutions are offering to defer mortgage payments for 6 months. This is GOOD news. While it might not seem that way if you read some of the media posts, let’s clear things up:

•  NO, it won’t harm your credit rating.
•  NO, it isn’t expensive. Read on…
•  NO, this isn’t automatic. Your mortgage payments will not be forgiven for 6 months without calling anyone. But most lenders are happy to postpone your payments without much fuss.

Continue reading “6 month mortgage deferral will help, not harm, despite what media say.”