I wish some1 could help me find me answers to my questions cuz I'm having trouble with my 8 years Contract condominium. I only have a year to pay the house in full and its all mine. But unfortunately I lost my job and I wont be able to pay monthly dues with my house(now I'm 3mts late). What happen if i wont be able to pay the house anymore and did not finished the contract? What will happen with the money i already gave the Co. for 7 years?
Thanks for any advice!
I'm really sorry to hear about your situation Enricoenriques.I live in the UK so what is relevant here is obviously not relevant in your country. Perhaps you could try surfing the internet for some free advice sites where you may be able to obtain some information about how you stand legally. Other than that I do not know what to suggest but I'm sure another hubber will be along soon enough to offer you some good advice. Sorry I can't be of any more help.
Worst case scenario. It will be repossessed, sold at auction; and after all of your creditors with a vested interest in the property have been paid in full, the balance is yours.
Best case; call them. Talk to them. Explain your situation and they will recommend programs that can help you retain your home. They'll screw up your credit, but you'll have a roof over your head.
I remember reading that something like 70% (or some crazy-high number like that) of all foreclosures could be avoided by simply communicating with the lender at the onset of financial troubles. If you're 3 months late, it's not the onset, but it's still relatively early.
COMMUNICATE. The lender might be able to offer you some form of temporary forbearance, reduced payments, etc.
You don't say where you live so it is hard to give specific answers. Who do you owe the money to a bank? Will they work with you and allow you to defer payments until you can get a new job? Is it possible for you to borrow the money from a friend or relative to get current? Can you sell the property for a profit? With only a year left of payments I would say don't give up - do whatever you need to catch up and make that last year of payments, even if you have to sell some personal items to make it happen. Don't give up at the last leg of the race.
by Carolee Samuda8 months ago
I finally reached Adsense payout last month but all I see is that payment will be sent 'by' the 31 of May. Does that mean that payment could be any old date or will it be made 'on' the 31st? Not sure I understand what...
by Randy Godwin4 years ago
So I've deleted all of the idled hubs so far and am wondering when I will have none left. I'm not going to edit anymore until I see some sort of improvement in traffic. Too much trouble for no results at...
by Derrick Bennett4 years ago
Have you ever been a situation where you got the person you had your eye on then you realize that you don't want them anymore. Maybe it's because their personality that turned you off or maybe its that you only wanted...
by Sulabha Dhavalikar2 years ago
I had typed this hub. I knew it required a lot of finesse so as not to make it appear cheap. Just when I was all immersed into it, I got this message that the ads would be disabled if I published the hub.It hurt me very...
by Elsie Nelson4 years ago
One of my best friend's father passed away VERY unexpectedly in his sleep last night. My friend is distraught. I've offered to bring her family dinner tonight, but that's taken care of. We've set up a...
by Nell Rose6 years ago
I have just found this new writing site, that after spending nearly an hour taking a test to prove my worthiness! I was wondering if it was worth it! they pay you about 2 dollars each article if it is 300 words, but of...
Copyright © 2017 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.