Before receiving a warning letter, go to the bank to explain the reasons for financial difficulties encountered. Bank officers are not robots that act stiff, really. As long as you want to come negotiate, will be greeted with a big smile. Make sure you don’t panic so you can stop foreclosure without more problems.
Here are the steps that can be taken when the difficulty of paying mortgage installment:
Rescheduling mortgage payments can be an option offered by the bank or our own. Through rescheduling, mortgage repayment schedule will be reset in accordance with the bank officer count and our ability to pay.
The scheduling includes an extension of the crediting period (tenor) and grace period grace period. During this grace period, we are allowed to postpone the repayments without penalties or penalties.
In re-determination of these terms, not only can the payment schedule be reorganized. Interest rates can be arranged again. For example from floating to fixed for several months, then floating again. Flower relief can also be applied through reconditioning.
Rearrangements can be selected when rescheduling and reassignment are not helpful enough. Which can be reorganized, among others, interest rates and interest arrears and loan principal. For example, interest rates of 10 percent are reduced to 9 percent. Interest arrears may be removed, leaving only the rest.
In addition to the above three options, can also combine it all. Later on how to negotiate with the bank. To be sure, the bank will assess the ability to pay us again before providing waivers.
If we judged it would be difficult to pay the installment constantly, the plea is most likely rejected. At that time, perhaps the best way to go was to sell the house itself before the bank seized the alias over credit.
The hope can get the difference from the sale price of the house. Especially if the credit has lasted longer, more than 5 years. Housing prices clearly have gone up compared to the first time buy.
However, of course, avoid the failure to pay mortgage repayments. Before taking a mortgage, calculate the ability to pay. Unless want complicated take care of bad credit like this.