I am asking for a friend (need advice)

I never had this problem, so I thought I would ask you ladies. It seems my friend and her dh are 1 month behind in their mtge, they dont know how it happened, it just did. Of course, they cant afford to make two months at once, so I said why not call the bank and see if you can add it to the next two or three payments in partial payments. Am I being realistic? Do most banks work with people when this happens?

Re: I am asking for a friend (need advice)

I would def tell her to call the bank. It never happened to me (knock wood) but I am almost positive that can work with them.

Re: I am asking for a friend (need advice)

It can't hurt to call the bank and explain the situation.

Re: I am asking for a friend (need advice)

never happend to me either (thank goodness) but tell them to definitely call their lender - I work in lending and we would rather work something out than have them be behind.

Re: I am asking for a friend (need advice)

This can be done. Banks wants their money so they are willing to work things out with lenders so they get it. I know someone who went through a very hard time and was not able to pay for several months. The bank tacked the missed payments onto the end of the mortgage (extended the mortgage). But it will affect their credit. And they need to get this all in writing from the bank. The people I know had trouble later on down the road and nothing was in writing.

Re: I am asking for a friend (need advice)

Not unrealistic at all - definitely tell her to call the bank. It's better to work this out than be 30 days late for months on end on your credit report!

I'm sure they can work with her.

If they won't, I would take the money out of savings and pay it (if she can) b/c I wouldn't want to let that go too long!

Message edited 6/8/2007 12:58:16 PM.