When Paying the Mortgage is a Struggle

Have you ever had to really struggle paying your mortgage because you lost your job or you were sick, or divorce.  This is not uncommon…it happens all the time.  It’s part of life.  But the real problem is knowing and understanding what to do to resolve the problem.  Check out this article that goes into great detail about knowing your mortgage, delinquent payments, get credit counseling etc.

“The possibility of losing your home because you can’t make the mortgage payments can be terrifying. Perhaps you’re having trouble making ends meet because you or a family member lost a job, or you’re having other financial problems. Or maybe you’re one of the many consumers who took out a mortgage that had a fixed rate for the first two or three years and then had an adjustable rate – and you want to know what your payments will be and whether you’ll be able to make them.

Regardless of the reason for your mortgage anxiety, the Federal Trade Commission (FTC), the nation’s consumer protection agency, wants you to know how to help save your home, and how to recognize and avoid foreclosure scams.

Know Your Mortgage

Do you know what kind of mortgage you have? Do you know whether your payments are going to increase? If you can’t tell by reading the mortgage documents you received at settlement, contact your loan servicer and ask. A loan servicer is responsible for collecting your monthly loan payments and crediting your account.”

Here are some examples of types of mortgage

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