The last time I checked into a federal FHA program similar to this, the compounded interest (that continued ) was a killer. I admit that if I was backed up against a wall without a job, it could be the straw I needed to save myself.
Good decisions come from experience. Experience comes from making bad decisions. Mark Twain
Location: Massachusetts, Zone:6/7, AHS:4, Rainfall:48in even Soil:SandyLoam pH6 Flat
You can basically think of the deferral as a tiny 2nd mortgage.
So if you deferred $12,000, you have to pay that $12,000 plus another $12,000 in interest.
So just add another 2yrs to your mortgage end date.