Video: Becky is behind on her mortgage
Video about being behind on our
When Greg left things turned bad. He was paying child support
but I couldn't keep up the repayments on the house. So I let them
slip and the bank began sending those 'Please explain' letters.
My friend convinced me to put the house on the market, but it
was hopeless. Real estate prices had dropped and I wanted to hang
in for a better offer.
I tried budgeting. I sold the car and whatever I didn't really
need anymore. But the debts kept piling up. I couldn't pay my
credit card and it got to the point where I couldn't face the bills
anymore. I just didn't want to know.
It was when I got a letter from the court that it really scared
me. The bank had started legal action and they were about to
repossess the house.
At that stage I had a buyer for the house but he wanted to delay
settlement to get his finances in place.
What worries me is if they can stop you from selling it. I mean
if the bank can cancel the contract, on the grounds that the court
has given them the right to sell it. Maybe you need legal advice.
I looked at the MoneySmart website. There was a list of legal
centres that could offer free legal advice. So I phoned a local
centre and made an appointment to see one of their lawyers. I was
glad that I did.
Last updated: 09 Aug 2016