Mortgage bank offering "Forbearance Plan" for my mortgage

[Hiren Patani]

Hi,

I'm writing this from Houston, TX. Due to impact of HARVEY in Texas, my mortgage bank is offering "Forbearance Plan" for 3 months. Were I don't have to make any payments for 3 months. It will show my loan account as active and current but mortgage company will report all credit bureau on monthly basis that I'm on "Forbearance Plan". At the end of 3rd month, I have to catch up and  have to mkae payment for all 3 months.

My questions:- Being a real estate investor, will this affects (good or bad) my credit score in short and/or long term? Should i take it?

Please share your thoughts/suggestions or recommendations?

Thanks!

[Fred Heller]

I received the same notice from Chase. They're offering forbearance on all credit accounts. And they specifically said they would not make any negative reports to the credit bureaus during that time.