LogFAQs > #937374892

MagnusX posted...

That's exactly what it means for some banks. Deferred payment is just deferred. Interest still accrues and you'll be stuck with three monthly mortgage payments at once. Banks don't give a fuck about you or I.

this isn't how deferrement works, and most of the gov't mandated deferements are including 0% interest during the deferment period.

In a traditional deferment, you're adding your outstanding balance onto your principal, so you'll increase your monthly payments throughout the loan. As stated above this is more putting it on pause then deferment.

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