2
Sep
'Let your landlord know' if you're behind on mortgage repayments
One or two late mortgage payments may be acceptable as long as
homeowners talk to their landlord or mortgage company and let them
know what is going on, according to one property expert.
Chris Jenkins, co-owner of the Homeowners Advice Centre, said that
more people are currently being employed on temporary contracts
which can lead to them being unemployed at short notice, thus not
allowing any time for forward planning.
His comments follow the Ministry of Justice's launch of a series of
online guidelines for homeowners in danger of repossession, which
went live on August 31st.
"The key is always communication; explain the situation you are in
and make whatever payment you can afford," said Mr Jenkins.
The news comes after the Council of Mortgage Lenders reported that
the number of repossessions in the second quarter of 2009 fell by
ten per cent compared to the first three months of the year.
