should I inform my mortgage company that after next month we will struggle to pay mortgage ?
will they be sympathetic - I am just putting house on market
we have about 40% equity in £460k home
note my use of we & I
my husband informed me yesterday he will not be paid anymore after May ( 5 years paid sick reason given depression)
he also told me we have no savings (so what happened to that £38,000 we had at the end of Feb 2012) and I must deal with it
I am ashamed to say I have let him control me for years just to keep the peace.
Sharing family home with 2 children 10,12
I can go into further details... but, can anyone give me any information on how mortgage company might respond
My mortgage company were no help at all, they just want their money.
I was told that only after a payment has not been made for 2 months do they consider it a default. If you pay say half the payment one month and half the payment the following month then in the third month it will be seen as a default as you are then behind with the payments. Am I making sense??
If you do this your credit rating will then be affected as a note is put on your credit file, same goes for anyone else named on the mortgage. This apparently happens also if you agree to a change in your monthly payment with them.
My ex did the same, stopped paying his half of mortgage last year so I am now struggling to pay until finances sorted as I don''t want him dragging me down with him...