Posted on: 13th Sep, 2013 12:10 am
What happens if I cannot pay one of my mortgages?
Hi Sherlyn,
If you cannot pay off the mortgage, then either the lender will foreclose the property or he will charge off the loan and assign it to a collection agency.
Take care.
If you cannot pay off the mortgage, then either the lender will foreclose the property or he will charge off the loan and assign it to a collection agency.
Take care.
In both the cases, your credit score will drop!