Respuesta :
Answer:
-Notify your mortgage servicer
-Contact a Homeownership Advisor
-Cut other expenses where you can
Explanation:
If you start having a hard time paying your mortgage, you should:
-Notify your mortgage servicer that is the company to which you make the payments of your loan and it can offer you an option that can help you with the payments like a deferral.
-Contact a Homeownership Advisor as this is a professional that provides financial advise before and after you purchase a house and can help you with options to fix the problem.
-Cut other expenses where you can because you may be having expenses that are not necessary and if you decrease them, you can be able to pay your mortgage.
The other options are not correct because using your credit cards is worst because you will be paying a loan with a different loan that will probably have a higher interest rate and wait a few months and see if things turn around can result in you missing payments which will affect your credit score and you may end up losing your home.
A mortgage is defined as the loan used to purchase a home, land, or any other real estate. The lender sets a period of time in which the mortgage should be repaid.
What should a person do if they are experiencing a hard time repaying a mortgage?
- Notify the mortgage servicer that the company can help in payments such as deferral.
- The person should contact the homeownership advisor and should take professional financial advice before taking or burrowing a mortgage.
- The extra expenses should be cut or minimized to repay the mortgage, so as to fill up the amount in a given period of time.
Thus, the mortgage is the loan that has to repay in the specified time, and the person should take several steps in repaying the mortgage.
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