Our mortgage is a failure. You have a mortgage on your house that doesn’t work and you live on a $50 per month mortgage. Then you have to pay all the mortgage payments and you end up living on $50 per month. That’s not a lot of money at all.
This is a good thing. If you’re not getting your debt paid, then you’re not getting your home, and it’s not working.
How many times have you been told to either “pay me now” or “pay me later”? In a perfect world, you’d be told to pay your bills or pay your mortgage now. The problem is, you live in a world that is in constant flux and the mortgage payment is just a small portion of a much larger bill. For example, before I got married I paid all my bills in full for the first year.
That sounds like a good plan, but it actually makes a lot of sense with everything in the loan/credit card industry. If you go into debt, you are essentially paying for the services of some large entity. The real problem is the lender. They are essentially paying you to take money out of your pocket. They just don’t know what to do with it.
The mortgage payment is not a big deal. In fact, it is so much more than that. They are the lender. But they don’t get the mortgage payment. It’s just a big chunk of the mortgage debt.
In fact, the loan companies are often the ones that are most involved in the foreclosure process. In order to get a loan, they need to know your past, present, and future income, the amount of equity you have in the property, and if the property is worth more than the loan to be taken out. In short, the banks need to match the value of the property with the loan amount. But, in order to do that, they need a lot of information about you.
For example, if you want to get a home loan but don’t want to borrow more money than you can afford, you need to have an emergency fund of at least $3,000 to $5,000 to save up for when the loan comes due, and you need to be able to show that the house is worth more than the loan.
That means you’ll have to make sure that the lender knows about your personal finances. In our experience the most common reason for not having a good financial history is that banks are not very interested in what you actually do with your money.
The second most common reason is that the loan is too much, so you can’t take it. So you’ll have to go to the lender and request a modification of the loan amount.
If you need a loan, you generally have to meet with a mortgage loan consultant to get a better understanding of the loan terms. This can be quite costly, but the goal of the consultation is to get a better idea of how to manage your money. We have a number of lenders who provide this service and it is a very worthwhile one.
