Is a revised mortgage payment plan part of the pending repossession process?

W

whoknows

Guest
If a person enters into a revised payment plan with their mortgage provider for approx. three months; are those three months part of the two year process, drawing nearer to the two year repossession deadline? Another words twenty one months to get your financial house in order.
 
What is the "two year process"?

There is a 12 month moratorium on repossessions under the Code of Conduct on Mortgage Arrears.

Under the proposed new CCMA, which has not yet been finalized, it is proposed that the 12 month period starts from when any new agreement has broken down or has been terminated.

But there is no downside to agreeing to a rescheduling.
 
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