Golden Lakewood Real Estate

11 months ago

We should all take advantage of historically low mortgage interest rates. This new ruling is a great deal for borrowers who have taken advantage of mortgage forbearance or have only applied for a mortgage forbearance but didn't use it. This enables them to refinance with little or no waiting period. Before the ruling, borrowers had to wait 12 months to refinance after forbearance. I assume the borrower will need to be working again but the specifics will depend on each borrower's unique situation. The details will need to be discussed with a potential lender being considered for refinancing.

www.housingwire.com/articles/fannie-mae-freddie-mac-will-allow-borrowers-who-took-forbearance-to-... ...

Fannie Mae, Freddie Mac will allow borrowers who took forbearance to refinance their mortgage

housingwire.com

The GSEs will now allow borrowers who went into COVID-19 forbearance to refinance their loan or buy a new home with the support of the GSEs.

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Leo

Swoyer

Broker Associate

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Leo

Swoyer