Questions about ride-through on an ARM

[Tom_Mi]

CH7 might be happening, and a little sooner than I'd hoped.

Rather than rent, I'm wondering about doing a ride-through on my house...for a while. But I have some questions:

• I've not paid attention...what percentage of mortgage companies will allow this?
• The home loan is an ARM, with a low (currently cheaper than rent) neg-am "minimum pmt". Would the bank
  -let it fly despite the negative amortization
  -deny the ride-through completely because the loan isn't fixed rate
  -or allow it..but specify a fully amoritzed pmt?
• If any ride-through is authorized, how long can people do it? I'd like to stay long enough for my credit to rebound somewhat...24months?

[laurannm]

Seems like majority of the lenders out there are allowing the ride-through. If they do allow it, I am pretty sure you can ride-through for full term of the mortgage (i.e. 30 years) if you choose to.

[Tom_Mi]

That's good news, and you think they wouldn't notice I'm paying the neg-am payment?