How to negotiate the mortgage with the bank

It is said that the last thing that is left to pay is the mortgage. The phrase is not without reason. The problem is that due to the situation that the economy is going through , many families find themselves 'with the water up to their necks' and even more so when they have to pay the house mortgage. If you identify with this situation and you intend to go to the bank to renegotiate the mortgage of your home, it proposes a few steps so that you know how to negotiate the mortgage with the bank.

one

Do not think twice and go to the bank's office . Do you remember the famous saying 'Do not leave for tomorrow what you can do today'? For when it comes to a financial issue, it is best to follow the advice to the letter and communicate to the bank any change in the financial situation of the family.

two

If you have not previously communicated your problem, the bank will surely have begun to realize it. Above all, if the account holder starts to receive income from the national unemployment service and not from his previous company.

3

Make sure that if you are going to negotiate with the bank, you must find a formula that allows you to deal with the debts. Ask the financial advisor to give you all the possible options.

4

If you do not trust what they tell you, among the solutions that the bank can offer you to pay the mortgage are: lengthen the term of the mortgage, which will allow you to reduce the monthly installments; it can also be granted that during that period, the mortgaged one only pays the interest on the loan; there are banks that grant a moratorium of 3 years of the mortgage payment.

5

Another option that can be negotiated with the bank is obtaining a withdrawal, a total or partial cancellation of a debt by the creditor. Some entities are willing to grant a withdrawal when the client can deliver an amount in cash, even if it is less than the outstanding debt. They are also prone to this negotiation, if the client finds a buyer for the home.

6

Finally, if the client can not pay the home, the banks are favorable to employ the formula of the dation in payment, by which if it is believed that the client will be unable to return the loan granted, he will deliver the house to the bank.