For one reason or another, many people come upon periods of financial difficulty. During this time, many people become unable to make mortgage payments. In this situation, the most important advice is to consult your bank or other financial institution and explain your situation clearly. Often, the bank will be willing to come to some sort of arrangement to accommodate your present needs. For example, the bank may agree to temporarily reduce your regular payments.

If you stop paying your mortgage payments and do not make other arrangements with the bank, the bank will likely begin legal action to take possession of your home. Whatever your problems, it is a good idea to advise your bank and request a temporary solution until you become more financially stable.

If your house is not worth more than your mortgage loan and you cannot make your payments, you may want to consider walking away from the home under a quit claim deed. If your mortgage lender agrees, you may be able to transfer title of the house to the lender in return for a complete release of all your obligations. The lender then becomes the full owner of the property.

If you cannot reach an agreement with your bank and you are unable to make your payments, the lender may begin action to take your property. Before this happens, you should contact a lawyer to determine all of your options. To get help, ask a lawyer now.

Need help with a cash deposit?

Are you buying your first home or dream home and are ready to make an offer?

A Home Deposits Now guarantee is the new and improved way of providing the deposit without the stress of having to free up the funds you need right now.

A Home Deposits Now guarantee can help you if:

• your equity is tied up in your existing property,
• you have investments that are locked in,
• you want to keep your money in the market, or
• you are waiting for a gift.

A Home Deposits Now guarantee is a quick, easy and low-cost alternative to a cash deposit when purchasing a residential property. You can avoid the stress and complications of having to obtain certified cheques, a line of credit, bridge financing, borrowing from friends and family, or being forced to liquidate investments and paying breakage and interest fees.

Home Deposits Now can approve your application online in a matter of minutes for up-to 10% of the purchase price. Your Home Deposits Now guarantee will be delivered instantly to your licensed realtor. You can make as many offers with Home Deposits Now as needed until you have secured your new home. Visit Home Deposits Now for a trusted and stress-free alternative to cash deposits by unlocking your equity for a quicker and easier home purchase.

Get legal help

Real estate matters involve large sums of money and complicated legal issues. To get help, ask a lawyer now.

								
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