Can I refinance or purchase a new home if I am in forbearance with my current mortgage?
If you are in forbearance, or recently ended a forbearance and are looking to refinance or purchase a new home, you are eligible only if you are current on your mortgage (i.e. in forbearance but continued to make your mortgage payments or reinstated your mortgage). You are also eligible to refinance or buy a new home three months after your forbearance ends and you have made three consecutive payments under your repayment plan, or payment deferral option or loan modification.
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Tawana Bourne, Broker - REALTOR® - Investor
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*Disclaimer. Q&A’s are for marketing purposes only and are not intended to offer real estate advice to non-represented parties. Please consult with a real estate professional under their contractual representation for answers to your real estate questions.