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Episode 120: Pros & Cons to Mortgage Forbearance w/ Loan Expert Chris Henry
Description
Myka and Steve bring on loan specialist Chris Henry to break down mortgage forbearance - and discover the balloon payment catch that lenders don't mention upfront. Henry explains that after three months of deferred payments, borrowers must pay the full lump sum or enter a loan modification, a reality that makes forbearance risky for cash-flow-positive investors.
The conversation moves through strategies for weathering the pandemic: room-by-room rentals as recession insurance, note buying as a low-maintenance income stream, and the advantage of corporate rentals over short-term guests when travel evaporates. Henry warns that investors with properties under 12 months old won't qualify for modifications, and shares inside knowledge about potential six-month deferments coming from Fannie Mae and Freddie Mac. The hosts weigh whether panic-selling will flood the market and what opportunities exist for buyers with cash reserves.
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Myka — Sharebnb: www.sharebnb.com
Steve — Argest Rentals: www.ArgestRentals.com
Sign up for PadSplit with Steve's link and get a free 1-on-1 PadSplit strategy call with Stevie Stacks: padsplit.com/hosts
Myka's other podcast, Entrepremarriage — building wealth without losing the marriage: youtube.com/@Entrepremarriage
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