Monday, December 17, 2007

What if you can't pay your mortgage?

For many of us, even the thought of not paying your mortgage sends shivers down your spine!

But the question is still valid: What if you can't pay your mortgage?

Here's an excerpt from a recent post by the Wall Street Journal:

You should contact your lenders right away. If you are like most folks, you aren't answering the lenders' mail or returning their phone calls. Most think they don't need to speak with their lenders about their situations, or think they can take care of their problems, if they recognize them as such, without involving the lender.
But a large percentage also believe their lenders can't or won't be any help, or are simply too embarrassed or scared to ring them up. But all these people are wrong -- on all counts.

Your lender does not want to take your home from you! They only want to be paid back for the loan they made to you. So, if you're in trouble, call your lender right away. They will work with you to come up with a way for you to get over your trouble with making payments, and get caught up. Trust me on this!

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