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In: Mortgage
14 May 2010I lost my job this week. Will my mortgage lender allow me to suspend payments if I call them? I am not underwater on my mortgage, I’m not looking to refinance the amount just suspending payments until I find another job.
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2 Responses to Suspending mortgage payments?
hamsterbabies
May 14th, 2010 at 5:18 am
You will have to call and see how flexible the bank will be. Every bank has their own policies. Due to the high rate of foreclosures, banks are being more lenient in giving modifications of mortgages when possible and may be able to work with you. Just call the 800# and see! I’m sorry about your job
Landlord
May 14th, 2010 at 6:09 am
They will not until you decide to get another job. What if you sit on your butt for months? They may give you one month though, or 3-4 months interest only.