Mortgage Deferral after 3 Months Forebearance

We had our first baby Jan 31, wife took 2 months off for physical recovery from complications, and we had surprise tax bill implications from being recently married (combined income massively increased her student loan IDR payments), and her business reporting a surprise profit that skyrocketed the 2025 bill.

Just before baby was born, I gave them these details and they put us on a 3 month forbearance.

The 3 skipped mortgage payments amount to our tax bill due, and to free up the money for increased quarterly tax payments going forward, student loan increases, medical bills, childcare costs, and insurance hikes, we would need to spend almost all the savings (down to 2k) to pay off 4 loans and open up $1500 monthly. A revised meticulously documented budget accommodates all of this but shows negative monthly income after savings and expenses, maybe $250 leftover if we fully stop contributing to savings.

We came up with this plan and submitted a hardship request form to the servicer (Fannie Mae backed) to exit and resume normal payments in May, with a request for deferral of missed payments to the end of the loan term.

The message we got was boilerplate but cryptic “nothing is guaranteed but we will let you know”.

Will we be approved? I was about to spend that savings since tax season is upon us, and pay off the relevant loans to get us in the green and out of hardship, but am worried that if we get declined deferral, that the hardship is no longer resolved and that we will now be in an extremely bad place.