Trouble making mortgage payments
Are you having trouble making mortgage payments? Find out from your lender what preventive measures they have set in place to help you.
This ‘Article from the Toronto Star‘ provides helpful information and insight regarding people having trouble making mortgage payments. Garry Marr has a good point in his article saying that “it’s the last thing you want to do when you can’t make your mortgage or loan payment but it’s a common response for many Canadians — stick your head in the sand and ignore it.” Definitely sticking your head in the sand is not the best way to deal whith having trouble making mortgage payments.
You need to be open and honest to yourself and the lender that has given you the mortgage and let them know that you are having trouble making mortgage payments. This way the lender can come up with a solution to help you with making your payments. The last thing that on a lenders mind is wanting to worry about foreclosures and selling properties to get their money back. Therefore to as much as they can, help will be offered in creating a resolution to assist you.
Working with a mortgage broker or agent can also be helpful as they have specialized experience in this field and may be able to offer other solutions to your dilemma .