Need help paying your mortgage? Is your mortgage in arrears? Are you having difficulties with your home loan? Getting help from a broker that is experienced in non bank lending can be increasingly important. Especially if you are trying to stop the prospect of a mortgagee sale, or the bank has sent you a letter of demand. Receiving expert mortgage help for a mortgagee sale can be important. This is where the Mortgage Rescue service may help.
Where to get mortgage help or financial assistance
When a person falls behind on their mortgage payments, this can quickly turn into a serious issue. It’s hugely important to be able to keep up with your mortgage payments. But it is a reality that there can be challenges in life.
What life matters could lead to mortgage trouble:
- Difficulties budgeting
- Sickness
- Job loss
- Family passing away
- Lockdowns, natural disasters
- Other events that give rise to financial difficulties
These are a number of examples and not a full exhaustive list.
What are some tips to try deal with mortgage problems? Read on.
Sometimes it can be hard to budget, other times there can be life events. . Financially they can affect people and it is a reality that life has these difficult turns.
Getting financial assistance during these times can be critically important, for example getting a solution or money to help pay the mortgage.
A “mortgage holiday” or “contribution pause” might have been something a bank or lender could have offered. However if it is past that point, they may not offer it again. If it is early on in the process you could talk to your existing lender or bank if there is something they can do to help you.
Other examples could be that a person owns a business but is no longer in the position of being able to run the business, for example the business has failed or is not able to generate enough money. Or has had tax problems.
These issues can lead to the bank or lender issuing you a “PLA Notice” or Property Law Act notice. This can mean the situation is now at a point where it is hard or potentially unlikely to be solved. It is a serious concern.
For those interested in generally learning more about mortgage lending, there is some detail on the Reserve Bank’s website of statistics around mortgage lending you might find interesting to read, or other matters.
Mortgage broker to help stop mortgagee a sale
The Mortgage Rescue service can help you get urgent help, such as refinancing a loan, or another option to try find an alternative.
Here are some ideas:
- Often times if your current bank is sending you letters of demand, or announcing you are in default, it is important to look to pay attention to the situation urgently.
- You may also need to consider seeking legal advice. A skilled legal expert may be able to assist you in working with yourself and the bank or lender to find a solution for the situation.
- Working with a mortgage broker with knowledge over dealing with non bank lending, second tier providers, and alternatives to using a bank
Help and financial assistance for the mortgage
It is important to take the situation seriously. The bank or lender could exercise their rights as a party that is providing a mortgage over their property. Taking steps promptly and receiving and acting on high quality advice could help prevent or stop a mortgagee sale.
If you are wondering what to do in the event of a mortgagee sale, consider that a legal professional together with a expert mortgage broker who specialises in finding an option or solution around this, that is part of what can be done.