Let’s admit it. Homeownership is as painstakingly hard as the cost of living in Australia. Foreclosures are hitting record highs for the past couple of years, and the housing tale continues to unravel as economic stagnation and high unemployment tends to leave homeowners broke – causing them not to be able to pay their mortgage.
If you’re one of those who struggles to make your mortgage payments, here are some options to help you keep your beloved home, or at least limit any financial issue of giving it up.
Consult your lender. A lot of homeowners lose their homes to foreclosure out of pride and denial. Take note that ignoring foreclosure notice won’t make the problem go away, but it’ll just make your options slimmer. As soon as you begin having trouble with paying the mortgage, contact your lender immediately to see if you can work things out.
Perhaps you’re …
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