Buyback / ED Financial called me
Rep from Ed financial Called me to talk about July with everyone leaving the save plan/forbearance, he mentioned that everyone is allowed 36 months of a temporary hardship forbearance. I have 34 months available of temporary hardship forbearance months remaining and I could apply that and use that in during the 90 day period starting in July to apply for a new income driven plan.
He Further stated once I pick a new income driven plan (IBR) and it’s processed and set up with a new payment date then I call back and follow up to be placed in that temporary hardship forbearance
Application for picking a new income driven plant starts July 1. You have 90 days to pick a new one so me personally I’m going to pick September to be a good month to set the up IBR and then be placed into the temporary hardship.
He also told me that’s what most people are doing who have 120 qualifying months who already submitted a buyback.