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Renegotiate
Your Mortgage Terms - Save Your Home?f your mortgage due date comes
and goes and you can't make your
payment because of a job loss or similar situation beyond your
control, you must act quickly in order to save your home. Pick
up the phone and call your lender because they can probably help
protect your credit and keep you in your house. You can often
renegotiate your mortgage terms in crisis situations like this
with a little effort on your part.
When you ring your lender, they will probably ask you if you
have a temporary loss of income or if your financial state of
affairs is more critical. If you've lost your employment, and
forthcoming payments are in peril, let them know immediately
because there are some measures you can take right away to
reduce or prevent the possibility of foreclosure.
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