Posted on: 13th Jun, 2010 06:22 am
I will not be able to pay my mortgage payment for the 1st time this month as my salary has decreased tremendously( I am in retail & the snow birds have gone home). I saw this coming & had gone to NACA for help as I was using credit cards to help meet monthly expenses. They could do nothing as they said I was current on my mortgage & had to be delinquent. Do I reapproach NACA or should I go to the bank directly for a loan modification. Can they deny it & will my home then go into foreclosure.Will this adversely affect my credit-it's not good anyway due to high balances on my credit cards. Failing this what are my options. If I do not pay mortgage do I then pay more on my credit cards to reduce these balances. Thanks for your advice
Welcome clarlisa,
I would suggest you to contact your lender and apply for a loan modification first. If the lender is not ready to help you, then you can contact NACA and request them to negotiate with the lender.
I would suggest you to contact your lender and apply for a loan modification first. If the lender is not ready to help you, then you can contact NACA and request them to negotiate with the lender.