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My 2 hardship expires in February and I got an email from the SBA saying so. So I called today to figure out how to get a 3rd extension and spoke with 4 different reps. All told me that it CANNOT be requested through the portal anymore, you have to send them request email and the 3rd hardship is 50% and 4th 75%. I am in complete shock. I saw people reporting here getting 10% 3rd hardship, what possible incentives do they have to say it if it is not true? Did the SBA change something recently? All reps told me that it is 50% for 3rd and 75% for 4th and your loan amount does not matter. I asked why I still have a renew option available online, and they told me it is for 1st or 2nd renewal, and it will cancel itself out for the 3rd if you try to use it.Â
BTW, I did this automatic renewal online but the date goes back to my current end date of 2nd hardship and it did not give me extra 6 months.Â
Please, if you have been able to get 10% 3rd extention, explain what exactly you did.Â
EDIT: I just watched this video and they are saying that it is a glitch in a system, and those paying 10% on 3rd extension will get their loans past due and not current? https://www.youtube.com/watch?v=EVKxEn1uWTM&t=364s
Absolutely it is. Generally, from the last extension I did, I had to wait until about 10 days prior to the hardship expiring before it would accept it.
I tried to renew the 10% and like you, it would jot change the date.
As soon as I added $25 to the reduced payment amount, it took it and showed me the 6 month end date.
I will see once I make the payment if it says I'm delinquent or not.
Did you try increasing the amount in the portal?
I'm on my 3rd hardship and I increased the minimum payment by $25, and it accepted it.
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Time will tell. I think it is a matter of wait and see at this point.
Hang in there. I know it sounds hollow, but there are a LOT of us in the sane boat.