mrpepeless
Registered User
- Messages
- 6
I urgently need an advice on what to do about my mortgage arrears.
My bank wrote to me today to say they are taking possession of my two investment properties.
One of the property is in arrears of €6,000 and the other is in arrears of €8,000.
The arrears was because the bank refuse to accept interest only payment and they were charging principal and interest on both properties.
The rent on mortgage one is €500 monthly mortgage is €980.
The rent on mortgage two is €780, monthly mortgage is €1,050.
I am paying €470 monthly to cover interest only on each mortgage.
My question now is how do i resolve this issue with the bank?
My bank wrote to me today to say they are taking possession of my two investment properties.
One of the property is in arrears of €6,000 and the other is in arrears of €8,000.
The arrears was because the bank refuse to accept interest only payment and they were charging principal and interest on both properties.
The rent on mortgage one is €500 monthly mortgage is €980.
The rent on mortgage two is €780, monthly mortgage is €1,050.
I am paying €470 monthly to cover interest only on each mortgage.
My question now is how do i resolve this issue with the bank?