Secured Loan... HELP!?
I have a substantial secured loan; but enjoy no equity in my property;& enjoy recently gone penniless...
I am still paying my mortgage but cannot make the full secured loan payments. If i propose to fashion a small payment respectively month is that acceptable; or will they still try to reposses my house.
Answers: Contact your lender RIGHT NOW! Many are renegotiating loans so that they don't hold to foreclose... BUT you have to ask. Call the lender (it will lift many call to find the right person) ask for the loan mitigation department. Tell them your story and ask for an adjustment in your loan and costs schedule.
DO IT NOW!
You own to talk to your lender, they probably will articulate "no". So look like they still will repossess your house. Good Luck!
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I am still paying my mortgage but cannot make the full secured loan payments. If i propose to fashion a small payment respectively month is that acceptable; or will they still try to reposses my house.
Answers: Contact your lender RIGHT NOW! Many are renegotiating loans so that they don't hold to foreclose... BUT you have to ask. Call the lender (it will lift many call to find the right person) ask for the loan mitigation department. Tell them your story and ask for an adjustment in your loan and costs schedule.
DO IT NOW!
You own to talk to your lender, they probably will articulate "no". So look like they still will repossess your house. Good Luck!