Major arrears on property but bank are willing to let me capitalise on arrears. Thing is the repayment per month will go up a fair bit and I cannot afford it. What can I do? Has anyone gone through this before?? Mortgage got into arrears some years ago but I have been paying in full each month for 3 years now but arrears are not going down and I just want to be able to have the one amount on the statement. Any advice?
Capitalising on arrears but can't afford repayment
- Thread starter lorrainet
- Start date
Without knowing all of the details, it sounds like you need a term extension. I think that that is the only way that you are going to get the monthly repayments down.
Bear in mind that the longer the term of your mortgage, the more it will cost you in the end.
Bear in mind that the longer the term of your mortgage, the more it will cost you in the end.
