Nov
07
I have fallen behind with mortgage repayments< Can arrears be added to the existing mortgage?
By
My mum passed away two years ago, believing that our home was to be paid off from a certain insurer, unfortunatley that was not the case, I am a young lady of 19 and i really want to keep my home< i am in arrears at the moment but me and my partner want to pay the mortgage, so i just want to know if arrears can be added to the existing mortgage and i can start afresh! please help!
Sell and Rent Back
Related articles:
- Remortgage Norther Ireland a Solace From Your Existing Mortgage! IF a borrower pledges his own home as security against the loan lent to him, then it is commonly known as mortgages. It is also popularly known as home...
- have to sell my home due to arrears in mortgage repayments will council rehouse me and my two dependants? my husband and i have agreed to seperateQuick Property Sale ...
- Removing Joint owner from Mortgage? My partner jointly owned his property with his brother, his brothers girlfriend moved in and my partner wanted to sell the property or be bought out, as they couldnt...
- Foreclosure - Make Sure You Keep Up With Your Mortgage Repayments Foreclosure is not something most people want to deal with. When a person faces foreclosure, they are facing losing their home. Foreclosure is the last step a lender takes...
- how are you doing with your mortgage repayments? I am paying €1025 per month for 30more years, it’s not easy with other high cost living bills and recession appearing, I just missed a months payment, am I...
5 Comments
September 3rd, 2009 at 2:37 pm
Your mother’s mortgage may not be transferable. I would get advice from legal counsel and tax advice before moving forward with this….but yes often a mortgage company will add on the missed payments to the mortgage balance if you ask.
September 6th, 2009 at 8:28 am
The mortgage company has the ability to add the amount that you are behind back into the mortgage, in a manner of speaking, it just depends on if they are willing. First, I would see why she was expecting the home to be paid off by this insurer, and then find out why it didn’t happen. If they were suppose to pay it off, and didn’t, you have a potential lawsuit on your hands.
September 9th, 2009 at 3:38 am
You have to approach the lender. If you can afford the house they should be willing to structure extra payments to allow you to catch up. I don’t think they’d want to just tack it on the end, but if you offer double payments (or something similar) until you are caught up I think they’d go for it. They don’t want to foreclose any more than you do.
September 12th, 2009 at 8:08 am
Where are you located?
To answer your question, yes it can be done but the problem is that you’re not the original borrower. You’ll have to talk to the lender either way.
September 13th, 2009 at 11:48 am
FHA Secure might be able to help you. There are lots of allowances for mortgage lates. It depends a bit on your loan and the circumstances. It has also been recently expanded. Probably worth talking to a lender about.
Regards,
Charlie