HOME FORECLOSURE PROCESS LEGAL ADVICE | QUEENS

First, you should be farsighted, and apply even when applying for a mortgage, insurance for a mortgage loan, in case of unemployment or disability. But suppose you did not do this, do not despair, there is always a way out. You can’t hide your plight from the bank and as soon as any problems appear, notify the bank, maybe you will meet and delay the next payment, and during this time you will be able to solve your problems.

It is also possible for some time to allow you to pay not the entire fee, but, for example, only interest. In general, it is better to contact the bank and discuss all the ways to solve the problem. If things are really bad, then you can always sell an apartment and buy an apartment with a lower cost again in a mortgage. You can also give a part of the apartment or the entire apartment for rent, and put the proceeds to pay off the debt.

You can always figure out the problem and find a way out because banks take apartments only after six months of late payment, and if you don’t hide your financial position from a bank, then this problem may not be the main thing, time works for you. It would be good to consult with a lawyer so as not to miss anything and arrange all the accompanying documents correctly, here our specialists will help you.