If you’re having trouble making your mortgage repayments, it’s important to act quickly and seek help. Here are some steps you can take if you’re experiencing financial difficulty with your mortgage broker in Melbourne:
- Contact your mortgage broker: The first step is to contact your mortgage broker and explain your situation. They may be able to work with you to find a solution, such as restructuring your loan or temporarily reducing your repayments.
- Contact your lender: If you’re unable to reach an agreement with your mortgage broker, you should contact your lender directly. They may be able to offer you hardship assistance, such as a repayment holiday or a temporary reduction in your interest rate.
- Seek financial counseling: You can also seek the help of a financial counselor who can provide you with advice on managing your finances and help you negotiate with your lender.
- Consider refinancing: If your current loan is no longer affordable, you may be able to refinance with a different lender who can offer you a better rate or more flexible repayment terms.
It’s important to remember that falling behind on your mortgage repayments can have serious consequences, including foreclosure and the loss of your home. If you’re experiencing financial difficulty, it’s important to seek help as soon as possible and work with your mortgage broker and lender to find a solution.