What are the risks of utilizing HUD junior lien at 0% interest coming out of forbearance.

I am coming out of a covid forbearance and looking at my options for the missed payment debt. It’s about 9k. My loan is FHA and the property is a duplex. I’ve launched STR so I’m finally making money with my first house after arduously renovating. I have renovation debt I’m throwing money at. The junior lien sounds scary and too good to be true at the same time. Should I continue forbearance for the full 18mos, and continue to pay off cc debt, or exit forbearance now and utilize the HUD junior lien, or try to come up with the lump sum of 9k? I have no savings ATM I’m just paying my renovation debt down. Thanks for your ideas.

submitted by /u/Lopsided-Collection3
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I am coming out of a covid forbearance and looking at my options for the missed payment debt. It’s about 9k. My loan is FHA and the property is a duplex. I’ve launched STR so I’m finally making money with my first house after arduously renovating. I have renovation debt I’m throwing money at. The junior lien sounds scary and too good to be true at the same time. Should I continue forbearance for the full 18mos, and continue to pay off cc debt, or exit forbearance now and utilize the HUD junior lien, or try to come up with the lump sum of 9k? I have no savings ATM I’m just paying my renovation debt down. Thanks for your ideas. submitted by /u/Lopsided-Collection3 [link] [comments]

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