Author Topic: Mortgage payment holidays,  (Read 95 times)

brian54

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Mortgage payment holidays,
« on: May 23, 2020, 11:16:24 AM »
I was talking to a man this morning and he told me his income has not been affected by Covid  19.
He has a mortgage and he said his payments are nearly a year in advance.
In spite of this he has had a letter offering a mortgage holiday which had been put in the shredder.
He thought it was wrong you only had to sign your income had been affected and you did not have to produce anything else.

Alex22

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Re: Mortgage payment holidays,
« Reply #1 on: May 23, 2020, 04:04:53 PM »
I hope you kept your distance from him Brian.

Ashy

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Re: Mortgage payment holidays,
« Reply #2 on: May 23, 2020, 04:10:17 PM »
Remember 3 fridges = 1 coffin
Run your compliments through a mangle to make them flatter.

brian54

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Re: Mortgage payment holidays,
« Reply #3 on: May 23, 2020, 04:28:41 PM »
I hope you kept your distance from him Brian.
I kept my 2 m distance from him. He thinks they are giving mortgage holidays too easy.

Ashy

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Re: Mortgage payment holidays,
« Reply #4 on: May 23, 2020, 07:18:16 PM »
No one is forced to take their helping hand.
Run your compliments through a mangle to make them flatter.

Goingtoseed

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Re: Mortgage payment holidays,
« Reply #5 on: May 25, 2020, 06:16:19 PM »
No one is forced to take their helping hand.

Where is the helping hand?

Whatever you do not pay that you should have paid will simply extend the mortgage with further interest being charged on the amount that you did not pay.

The only help is that the mortgage company wins in the end.

brian54

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Re: Mortgage payment holidays,
« Reply #6 on: May 25, 2020, 07:46:23 PM »
Where is the helping hand?

Whatever you do not pay that you should have paid will simply extend the mortgage with further interest being charged on the amount that you did not pay.

The only help is that the mortgage company wins in the end.


Oddly I know somebody who has been dealing with payment holidays. He has a telephone conversation with people who have applied and he gives them pointers to see if the payment holiday could be avoided for example he asks if they fancy their usual holiday in Spain this year for example.
Often by pointing things out the borrower suddenly finds they do not need a payment holiday.