Updated over 2 years ago on . Most recent reply
Buying a Forebearance Property?
A client of mine wants to sell his property. He recently lost his job and went into forbearance in April - so he hasn’t paid his mortgage since April.
He recently refinanced his home for $550k and has a balance of $546k. It could sell for $560k right now. Could rent for $2200/mo. I believe he was paying $3200/mo for his mortgage. Rate is 5.5%.
Any creative recommendations on how I could turn this into a smart investment? He just wants to get out of the property. Thanks!
Most Popular Reply
@Josh Edelman
If he is on forbearance I bet the amount owed is higher because it has deferred payments / interest
Nothing to do here, move on
- Chris Seveney
7e investments
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