Posted on: 31st Jul, 2009 06:29 am
My friend has taken home loan last year, he regularly paying payment
but from last 2 month he has not pay because he lose job.Bank has send notice to him.
He will surely start pay payment within 2 month .
can bank wait for 2 month for for payment?
If he will not pay payment then bank will take action against him?
please send how he need to do in this situation??
Help..!!
but from last 2 month he has not pay because he lose job.Bank has send notice to him.
He will surely start pay payment within 2 month .
can bank wait for 2 month for for payment?
If he will not pay payment then bank will take action against him?
please send how he need to do in this situation??
Help..!!
Hi,
What sort of notice has the bank sent to your friend? Is it a notice of default? Has the bank expressed their intention of foreclosing on the property?
If your friend does not make payments for 3-4 months, the lender will surely take action against him and will start foreclosure procedure. But if your friend is sure he can resume making the payments within 2 months, he can contact the lender and inform them about it.
What sort of notice has the bank sent to your friend? Is it a notice of default? Has the bank expressed their intention of foreclosing on the property?
If your friend does not make payments for 3-4 months, the lender will surely take action against him and will start foreclosure procedure. But if your friend is sure he can resume making the payments within 2 months, he can contact the lender and inform them about it.
your friend can apply for Special Forbearance. he will get some time to improve his condition & then start paying mortgage
amitforum
Your frind need to approach the bank first and explain the situation
They may be able offer some guidence
Good luck
Your frind need to approach the bank first and explain the situation
They may be able offer some guidence
Good luck