You can not pay your mortgage?
April Dunn –
1 & # 39; December 2018 / 11:00 am | Story:
Sometimes unforeseen financial situation can & # 39; & # 39 can occur and; can not & # 39; to make payment & # 39; your regular mortgage.
I can not emphasize this enough – take immediate action at the first sign of & # 39; boredom and work together with & # 39; broker & # 39; mortgage to find a solution to this difficulty.
The worst thing you can & # 39; do is ignore it as open and early communication with & # 39; your lender is the best action to take. Lenders ignore and delete when they are less likely to negotiate with you.
This step will increase the chance to manage this difficult situation and early intervention is very important. We fully understand your financial situation to help but can & # 39; there is a solution.
Many Canadians do not know what options are available. Did you know that some lenders will let you "skip-a-payment" and this option can & # 39; available as part of the features of & # 39; your mortgage.
If you ignore the situation too long can & # 39; find yourself facing foreclosure if you f & # 39; one of these situations:
- Put miss payment & # 39; mortgage because m & # 39; have the funds to pay
- I missed one or two payments & # 39; mortgage
- You have received a notice or letter & # 39; request by the lender your mortgage
- Or you isservew petition for exclusion
If any of these apply to you, this is a serious situation and you & # 39; on your way to foreclosure.
The easiest thing to do is to ignore any phone calls from your lender or the letter & # 39; which could have sent a request, but if doing so is really the worst thing you can & # 39; do and here are some of the consequences of ignoring the situation.
- M & # 39; have to say in court proceedings and will continue without you
- If the house is sold, you just notice that you vacate the property
- Can & # 39; have less time to stay in your home than if it had appeared in court
Can & # 39; have some options to solve this problem but speaking earlier to broker & # 39; mortgage is really the best way & # 39; your action if you can not redeem your mortgage by bringing up your payments plus & # 39; any legal expenses incurred by your lender.
Here are some ways to broker & # 39; & # 39 mortgage can; advise:
- Maybe you refinance to reduce your monthly payments to keeps you within your budget.
- We can see if we can acquire new mortgage with & # 39; lender and pay your current lender
- We can look and see if there is enough equity in your home to make the sale worthwhile yourself
- Or if we can not solved your problem, then go to court & # 39; is the best option
If you fall & # 39; on your mortgage interest and costs can accumulate very quickly and it is critical to seek assistance early before things out of your control so please give me a call at 888-561-2679 confidential conversation or email us at [email protected].