COVID-19 Pandemic (Coronavirus)

Originalman

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Just talked to the bank

I was under the impression it would just push back maturity of mortgage

Instead it would be a balloon payment of principle and the interest would get applied throughout the duration of the loan

So for me itd be 28.5 years of accumulated interest :mjlol::mjlol:

Yeah when you do forbearance or deferment the interest keeps adding up even though the payments stop. Then if you don't pay the interest at the end. The interest then gets rolled into the principle...they call it capitalized interest.
 

NkrumahWasRight Is Wrong

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Yeah when you do forbearance or deferment the interest keeps adding up even though the payments stop. Then if you don't pay the interest at the end. The interest then gets rolled into the principle...they call it capitalized interest.

Basura

I was thinking this legislation would give a grace period to those that lost their jobs :mjlol:
 
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