So, you’ve bought your dream home and got a mortgage, got the nice car, sometimes two of them, the kids are in great schools, you enjoy pay TV, go out occasionally, nothing too extravigent, all in all, life is ok….

AND THEN IT HAPPENS

One of you lose your job or go on extended sick leave, or something else happens that means your household income is cut drastically… “what do we do now?”

Well, that really does depend on your circumstances..

• Will you replace the income quickly?
• Do you want to keep the home?
• Do you want to sell the home?
• Do you want to refinance and consolidate?
• Is it all too hard to think?

 There are too many possibilities to cover them all here, so we will presume a couple of things.

1. Your income is recoverable but not soon enough to have no impact.
2. you want to try and save your family home from being repossessed by the lender.
3. You have some reasonable equity in your home.

 KEEP PAYING YOUR MORTGAGE!

Mortgage Now is Australias Largest Non-Conforming Broker and the thing we hear most often is..

• My solicitor told me to stop paying my mortgage
• My accountant told me to stop paying my mortgage
• My old broker told me to stop paying my mortgage
• My friends told me to stop paying my mortgage…….

They are all wrong!

If you want the best chance of saving your home, and you are having financial difficulties, then do the following..

1. Contact your lender and let them know, ask that they put it on record that you have called and said you may be late.
2. Prioritise your bills and make your mortgage payment.
3. Stay in regular contact with your lender
4. If you cant make the payment, speak to your lender, explain your situation and ask for hardship relief.

Then, contact your mortgage broker and have them find the best loan for your situation if you need to consolidate your debts.

We have seen the simple act of consolidating all debts save clients as much as $1350 PER MONTH in repayments.  This makes a huge impact on the family budget.

For more information on how we might be able to help you, please visit www.mortgagenow.com.au or call the office Toll FREE on 1300 667 239

This has been my comment, I am Graham Doessel.

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