Home Mortgage Payment – I haven’t missed a home mortgage payment since originating the loan. Need about 3 or 4 months relief?

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3 Dec 2009



Home Mortgage Payment – I haven’t missed a home mortgage payment since originating the loan. Need about 3 or 4 months relief?

Question about haven’t missed a home mortgage payment since originating the loan. Need about 3 or 4 months relief :
Since my income has been affected by the economy, I have run out of money. Historically have made very good income and have never gone this long (1 year) without making deals. Do you think the lender will work with me?

Answer about haven’t missed a home mortgage payment since originating the loan. Need about 3 or 4 months relief :
I think your best bet is the lender. It will be difficult to re-fi with another bank given your current financial situation, but you have a track record with your current lender. They may be open to a re-write of the terms of the original note. My buddy sat down with his bank, told them he needed time or he’d hand over the keys. Couple days later he was offered a lowered rate re-write with skipped payments added onto the end of the note.

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