Can I Get A Loan To Help Pay My Mortgage?
Can I get a loan to help pay my mortgage? Table of Contents Using a personal loan to pay off your mortgage generally isn’t recommended.
If you’re struggling to make repayments on your mortgage, you’re not alone. Many people struggle with mortgage hardship, and there are ways to get back on track before it’s too late. There are many forms of help available to you, from talking to your lender, to applying for hardship. If you think you might be experiencing mortgage hardship, but aren’t sure which signs to look out for, read on below.
There can be many signs of financial hardship. You may experience some, or all of the following:
If you think that you might miss a repayment, you should be ready to contact your lender. Call them before the repayment is due and explain your financial circumstances. You can still do this after you’ve already missed a repayment, but doing it beforehand shows that you are trying to find a solution as soon as possible, and may be seen as a positive sign by your lender.
If you miss more than one repayment, there still may be options available to you. Some could be:
While other options may be available depending on your situation, the two most common options when it comes to mortgage difficulties are:
*Disclaimer: This article contains general comments and recommendations only. It is not intended to be and should not be construed as legal advice. This article has been prepared without taking account of your objectives, financial situation or needs. Before taking any action, you should consider the appropriateness of the comments made in the article, having regard to your objectives, financial situation and needs.
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