Houses By Molly

09/28/2023

11/26/2020

Wishing you all a very Happy & Safe Thanksgiving!!

11/21/2020

Friends are always asking me how they can increase their homes value . . . here’s one way!!! 🤪

11/01/2020

This is too funny not to share!!!

10/28/2020

Looking to sell or buy? There’s no time like the present!!

05/01/2020

Woohoo 122 new houses on the market today!!!

04/05/2020

Thanks to Debbie Havens for sharing this explanation!!

IF YOU READ ANYTHING TODAY, PLEASE INCLUDE THIS!!! ***FORBEARANCE EXAMPLE***

Have had a ton of questions about this.

Let’s do some ‘mortgage forbearance math’.
——————————————
Mom and Dad have a mortgage.
It's currently $1,500 per month.

Dad gets laid off, calls the servicer, and asks for forbearance.

In one phone call, he gets 6 months "off" from paying.

Seven months later, Dad is finally back to work, and hasn't been able to save any money during the forbearance.

Forbearance is lifted and servicer says,
"That will be $9,000 + $1,500, which is now due". ($10,500)

Dad almost passes out and says, “WHY??"

Servicer: "That's the 6 months of forbearance plus the current month.”

Dad: "I can’t do that, can we work something out?"

Servicer: "Sure, we will spread out the $9,000 over 12 months."

Dad: "Phew....ok, good. What will that look like?"

Servicer: That will be $2250 a month for the next 12 months."

Dad: " OMG!!! I can't afford that."

Servicer: "Sorry....."

Dad: "Can I refinance?"

Servicer: "No because the loan went into forebearance."

Dad: "What can I do?"
——————————————

In a nutshell, this is forbearance, folks. Forbearance is not forgiveness. I need to keep putting this message out there, because I am getting a lot of questions. Please understand the seriousness of this. If you still have questions, you know I am always here for you. Even if you just want to pick up the phone and talk. I will help guide you in the proper direction. I know these are very hard times, and I understand there is panic in uncertainty. Please just hang in there. This too, shall pass.

Thank you to Christine Swingle Wilson and Lisa Wells for the original share and Derek Egeberg too! 🤔

[email protected]
719-648-6410
WWW.THEDEBBIEHAVENSTEAM.COM

❤️

Providing innovative service and mortgage guidance to help select a residential loan program for each individual client is our main goal. I love working with people, and I enjoy forming relationships with my clients built on trust, integrity and hard work.

03/23/2020

Sorry, one was shared with me by a potential client and too funny not to share, the other by my office and I wanted to share because these are great tips!!