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Advice on what to do if you are behind on home mortgage loan payments

This article will advise you on what to do if you are behind on home mortgage loan payments.

Guess what? You can only be behind on mortgage loan payments for 15 days.....and then the mortgage loan lender can foreclose on your home real estate or declare power of sale. And they don't even have to tell you about it. Yuck!

And guess what else? You can't refinance your home mortgage loan if you are behind on mortgage loan payments.

So what do you do if you are behind on your payments? You catch up on them.

  • Use a credit card to catch up on behind home mortgage loan payments
  • Borrow to catch up on behind home mortgage loan payments
  • Get a bank loan to catch up on behind home mortgage loan payments

Use a credit card to catch up on behind home mortgage loan payments

One way to catch up on behind home mortgage loan payments is to use a credit card. Your mortgage loan payment is probably somewhere between a few hundred dollars and a couple thousand. And that's a totally feasible amount to be putting on your credit card.

As long as your credit card is not maxed, or you're not behind on your credit card payments, paying your mortgage loan one month with your credit card isn't such a bad thing.

But remember: use your credit card to make your home mortgage loan payment before it's 15 days late. You don't want your lender to foreclose on your property or declare power of sale....then you would lose your home real estate.

Borrow to catch up on behind home mortgage loan payments

One way to catch up on behind home mortgage loan payments is to borrow money. You might have family members or friends that would be willing to let you borrow money to catch up on your behind payment. And the good thing about borrowing temporarily from people you know is that they might be nice enough to not charge you interest.

But remember: borrow money to make your home mortgage loan payment before it's 15 days late. You don't want your lender to foreclose on your property or declare power of sale....then you would lose your home real estate.

Get a bank loan to catch up on behind home mortgage loan payments

One way to catch up on behind home mortgage loan payments is to get a bank loan. Your mortgage loan payment is probably somewhere between a few hundred dollars and a couple thousand. And that amount shouldn't be too hard to borrow from a bank.

As long as you can qualify for a bank loan (you have to have decent credit), paying your mortgage loan one month with a bank loan could work for you.

But remember: get a bank loan to make your home mortgage loan payment before it's 15 days late. You don't want your lender to foreclose on your property or declare power of sale....then you would lose your home real estate.

If you want to get more information about me, home mortgage loan advice, then contact The Mortgage Store Online's brokers by using the contact form or by calling them at 1-866-880-2577.

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