hardik Soni
Joined: 16 Jun 2010
Posts: 42
Location: India
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| Posted: Thu Jun 24, 2010 10:36 am Post subject: IS mortgage refinance right way... |
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Hello!!!
My Friend is having a Mortgage loan. He is doing a job in Sales-Marketing, His salary is being paid as a Mortgage Loan Installments. Still He has to pay Installments for 7 years. But now he is not getting good salary.
Now the problem is that what will happen if he couldn't pay any of the installments. What should he do now? Is there any way that can save his home, Is there any predefine time duration is given to the borrower to pay installment. How much time will be given him to pay the installment ? What kind of legal Action might be taken if he couldn't pay the installment within the given time duration ?
What he should do to make his Mortgage Loan secure ? Is Refinancing way to reduce the risk of Mortgage Loan? |
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