Jump to content

Loan maturity date


The last post in this topic was posted 1506 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Recommended Posts

Hi,

 

Do mortgage lenders typically extend a loan maturity date?

 

My loan's maturity dates is 2/2021. There will be a balance of ~$13K still owed, which I definitely will not have. I can make extra payments to chip away at it, but won't come close to getting it paid off in 8 months. 

 

This has been weighing on my and I plan to call my mortgage company this week to discuss, but wanted to see what my advice/options others in this scenario have been given (extend maturity date/loan modification). 

 

Thanks in advance.

 

Link to comment
Share on other sites


How did you reach a point that the loan has that sort of an amount remaining?  Did they screw up the amortization table somehow or is this account for the taxes that would go through the escrow account?  Or was this written as a short-term balloon note?

 

And, admittedly, HOWEVER it occurred, you may want to look at finding a good 0% offer that allows you to effectively BT the balance away and get the year to pay it off at no additional amounts of interest. 

Link to comment
Share on other sites

I have no idea. I'm going to contact my lender for an entire account history.  I took out the original 30 year loan in August of 1999, then in March 2001 refinanced to a 20 year loan. It wasn't written as a balloon loan.

Link to comment
Share on other sites

The last post in this topic was posted 1506 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share




  • Member Statistics

    • Total Members
      188621
    • Most Online
      2046

    Newest Member
    freshhaven7
    Joined
×
×
  • Create New...

Important Information

Guidelines