In order to refinance, you will have to bring your loan current. We recently had a client who chose the government’s option to forebear his mortgage payments. He did not pay his mortgage for a couple months. When he contacted us to refinance, the lender would not approve the loan until he brought his mortgage up-to-date. Once the loan was paid current, the lender approved the refinance.
So, yes, you can refinance a loan in forbearance. You’ll just have to bring the balance current.
Contact us if you are looking to refinance your loan in forbearance.
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Counsel Mortgage Group®, LLC
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