저자: Kevin · 외국인
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코로나 CARES법상 연방보증 주택담보대출의 모기지 forbearance(상환유예)를 신청해 최대 12개월(단독주택) 원리금 상환을 미루고, 절약한 현금을 투자하면 무료 자금이 된다고 설명. 예시로 월 2000달러 원금·이자 12개월 유예 시 24,000달러를 S&P500 6% 복리로 굴리면 12년 후 약 48,000달러가 된다고 함. 신청 시 서면 확인, 연방보증 여부 확인, 신용점수 일시 하락(30~50점) 가능성, 2020년 12월 31일 다가구 마감 등을 언급. 특정 종목 매수 추천은 없음.
다듬은 글
hey everyone me kevin here if you own a home or rental property and you have not yet taken advantage of mortgage forbearance you don't know if you can maybe you just bought a house this year or maybe you've owned a home for years or it's a rental property i highly encourage you to watch this video because it could make you some real money and this is stimulus money that well let's just say it could be a whole lot more than a darn stimulus check that we've been fighting for for the last nine months let's come up with an example here let's say you pay 2500 per month for your principal interest taxes and insurance on a mortgage and let's say 2 000 of that is principal and interest well if you stop making your payments for the next 12 months after taking mortgage forbearance don't just blindly stop making your payments and let's say you only had to cover insurance and property taxes worst case then you would save 24 000 over the next 12 months now if somebody told you that you could take that money and add it to the back of your loan and maybe your loan has another 20 years left well you could take that 24 000 and invest it and see that's the beautiful thing about compound interest quick example here we take a compound interest calculator if we invest 24 000 dollars for twelve years just twelve years doesn't even have to be twenty at six percent we come up with an ending balance of forty eight thousand dollars which means we double the money that we save in twelve years investing at just six percent the s p 500 has returned more than seven percent annually on average for the last 40 years now no guarantees that it will going forward but the point is if you don't have to make your payments for the next 12 months and you take that money and you invest it you could double the money and basically it's like you just got a free 24 000 so how does this work well first we've got to understand what the law is and what some deadlines are that are coming up so if you're interested in taking mortgage forbearance let's get an understanding of this before we do anything so encourage watching the entire video watch it twice if you got to and remember you can always get four 'll give you four free stocks so while you're watching the video you can even so here we go the cares act allows you to take mortgage forbearance in order to take mortgage forbearance you need to contact your loan servicer that's the company that you make your payments to and ask them if your loan is federally backed or not if it is federally backed you're going to have the best mortgage forbearance options if it's not you're going to be subject to whatever mortgage forbearance options your loan servicer has oftentimes if your loan is not federally backed you're probably going to have to pay back your forbearance money at the end of the forbearance term which isn't great because that's kind of like you having to make a lump sum payment at the end sometimes these loan servicers will say hey you can pay back a little bit every month thereafter sometimes they'll say you have to pay everything sometimes they say hey we could do a loan modification you got to be careful with these if at any point a loan servicer is asking you to sign a contract or sign to do a loan modification be careful those are big red flags so if you have to sign something provide documentation or you're being offered a loan modification i personally would think twice about going down that road the most ideal road is going down the path of having a federally backed loan which you either have or you don't have and again you can find out by calling the person you make your payments to the numbers on your statement call them up hey i'm interested in mortgage forbearance by the way is my loan federally backed no okay maybe think twice about moving forward and you can research more options if your loan is not federally backed you can even ask them on the phone what options do i have and see if those options work for you whatever they give you make sure you get it in writing do not take anyone's word for it they can tell you one thing on the phone and send you something totally different in the mail and then you're screwed that's not good you don't want to get screwed nobody wants that uh instead best case scenario you call and they say yeah hey your loan is federally backed and maybe it's even an fha or conventional loan and those are going to go down the best scenario path for us va not not so great either but fha and conventional you're going to have some beautiful options so if you make it through that funnel take a look at how beautiful mortgage forbearance could could be for you now in order to qualify for mortgage forbearance with a federally backed loan the law only requires you attest to a hardship that are direct or indirect and this is really broad i mean an indirect hardship in theory could be something like i might lose my job in the future my hours might get caught who knows what indirect or direct is is not defined at least from what i saw in the law but you can always clarify this with your loan servicer or if you want to talk to a cpa or an attorney but in the meantime the law specifically says that you do not need to provide any documentation in fact page 210 of the cares act provides you exactly this information if we pull this up here this is page 210 of the cares act and what you're going to find on page 210 is this right here forbearance during the covered period a borrower with a federally backed loan experiencing a financial hardship directly or indirectly related to the covet 19 emergency may request forbearance on a federally backed mortgage regardless of delinquency status by submitting a request to the servicer aka column or fill out a form on their website and here you go affirming that the borrower is experiencing a financial hardship that's it notice down here it actually says that upon receiving a request for forbearance from the borrower the servicer shall with no additional documentation other than the borrower's attestation of a financial hardship caused by kovid and then on the next page over here and with no fees penalties or interest beyond the schedule amounts due charge to the borrower provide forbearance for up to 180 days which may be extended for an additional 180 days so that's how you can get that 12 months of forbearance basically by raising your hand and asking for it but again you kind of get funneled down into you probably want to have a federally backed loan unless your servicer is generous and they've got some good options federally backed it's going to be ideal i would say probably around 60 to 70 percent of loans are federally backed and ideally beyond that you probably want to have a conventional loan or fha loan the va loans are a little tougher they require more strict repayment on a va loans now here are some other important facts to know and i'm going to link some more information down below but if you own a single family house and your loan is federally backed you generally are going to get 180 days of forbearance with the extra 180 days that's your 12 months if you have a multi-family property you're generally only going to get 30 days of forbearance with the option to extend twice which means you're really only getting 90 days of forbearance when it comes to impound accounts in some cases when you pay your lump sum mortgage and it includes your property taxes and insurance you might not have to pay your impounds either however you probably still owe your property taxes and insurance unless you get forbearance through those companies individually which means you should probably keep money aside to pay for that and your loan servicer may end up charging you a larger monthly amount when your payments resume just to catch you up on property taxes and insurance for the year after you take mortgage forbearance that would be normal that's money you owe that's not money you're taking forbearance on anyway just be prepared for that now for the 12 months of principal and interest you didn't pay like the two thousand dollars per month in the example we did earlier you can generally request to have this money hooked onto the end of your loan be careful stay away from signing documents that say different things stay away from loan modifications and stay away from verbal stuff get these things properly documented as long as you can hook this money onto the end of your loan which you can do with a conventional loan or if you have an fha loan what they'll do is they'll just record a second it's like a second mortgage against your property that's not a big deal that's the same thing as adding it to the back of your first loan there's really almost i mean with the exception of a couple recording fees like 75 bucks here there there's virtually no difference between a 300 000 loan and a 290 000 loan with a ten thousand dollar second loan it's maybe just mental that oh my gosh i got two loans on it right but it's virtually virtually there's there's no difference there that's the fha path not something to be worried about now when you go to pay this off will most likely be when you sell the property or you refinance the property those loans will get paid off that is totally understandable so realize when you take mortgage forbearance you're kind of wanting not to sell or refinance for a while so you could take advantage of that free money the longer you take advantage of that free money the more benefit you can get out of it but in the future you are going to have to pay that original 24k back that original for beard amount the only way it really becomes free is if you invested with that money in the meantime and you were able to make a profit on that right then it's kind of like using other people's money for free and making money with that money right now few good tricks no matter what type of forbearance you take i always recommend you document in writing what you were told have them email you or if you talk to them on the phone ask them for their customer service email and shoot them your own email hey i talked to this person at this time i just wanted to verify this is what happened if you're in doubt keep the money you save in a safe place in the event something crazy happens that either your job gets laid off and you like it it's like oh crap here it is this was that indirect hardship i was worried about and you really need it for that or you need to pay it back because i you know something went wrong it's not a bad idea now for those of you who own multi-family properties with federally backed loans you have a deadline coming up the deadline is december 31st so that is if you own multi-family real estate duplex triplex fourplex generally uh and possibly even larger generally you're going to have to request forbearance by the end of the year though keep in mind you're really only getting those shorter term extension periods anyway the 30 days 30 days and 30 days on multifamily when it comes to single family mortgage forbearance generally you have up until 120 days after the national emergency of the pandemic actually ends the pandemic hasn't actually ended yet so from the time of recording this video we have at least 120 days if the national emergency ended today so it's kind of like you still got four months after the national emergency ends to request mortgage forbearance something to think about it's free stimulus money now it's very important that you're aware of the law when you ask for forbearance keep in mind i'm going to link all the information down below all my sources law on the cares act i'm also going to link the consumer finance protection bureau's website on this down below on mortgage forbearance when it comes to credit you may see your credit score temporarily drop 30 to 50 points when you take forbearance however this impact tends to go away after a few months i personally applied for forbearance to understand the process i never ended up missing a payment and i saw my credit score go down 40 points and then within two months it was right back where it was also when it comes to qualifying for a loan after you take forbearance you generally need to show that you've made your payments for at least three months in a row after taking forbearance and then you could generally qualify for a new loan again confirm this with your lender though now keep in mind if you do take forbearance again you might not want to be you might not want to refinance and there is a risk factor here because this potentially means if you have a higher interest rate now than what interest rates are now or will be in the future you might get stuck with a higher interest rate because you don't want to refinance because you're taking mortgage forbearance so be careful that but let's say you're uncertain about the future and you want to attest to this and you want to get mortgage forbearance best case scenario just to avoid any possible ambiguity try to do it before december 31st technically the law says you should still be eligible to get it after december 31st but we all know that what the law says and in practice what mortgage servicers actually do sometimes can be frustratingly different now if you did just close on a home this year in 2020 it is possible that you may have signed a document waiving your right to take forbearance so go to that big stack of documents that you signed that copy you got and see if there is an anti-forbearance form in there saying you won't take mortgage forbearance if not you can always call your mortgage servicer just ask them when in doubt call and then confirm in writing compared to march and april servicers today are much more familiar with mortgage forbearance i remember calling the day this act was passed and they were absolutely clueless they're like okay we'll we'll put your name down and when we figure it out we'll get back to you that's basically the response i got then today i expect much better customer service and well knowledge but keep in mind know your rights i'm going to link some very important things down below the cares act it's good for you to have this in front of you when you go talk to the uh to your mortgage servicer and that way you can you can talk to them about what you see in the law and how this aligns with what they're telling you i'll also link the consumerfinance.gov mortgage forbearance page down below on a personal note if you have no intentions of buying real estate or refinancing for the next you know at least three months to a year in my opinion there's really no reason for you not to take mortgage forbearance it's essentially free money it's a form of stimulus to help you get over any potential uncertainty coming up remember you do have to attest to a direct or indirect hardship no clarity on exactly what that means so you'll have to decipher that for yourself but that's my pov
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