Many homeowners have been inclined to pursue forbearances to skip mortgage payments. While this may be a viable option for those in need, it is not a viable option if you are attempting to refinance or purchase a new home in the near future.
To qualify for a forbearance, a client must claim a significant financial hardship as a result of COVID-19. It is our professional opinion that if you have the ability to make your mortgage payments, then you should continue to do so without question.
Due to the restrictions placed on lenders by Fannie Mae, Freddie Mac, and Ginie Mae, GSHL will unfortunately not be able to complete a refinance, nor purchase of a home, for any client who is currently in forbearance, or who has applied for a forbearance.