Video: Becky is behind on her mortgage

Video about being behind on our mortgage

Video transcript

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. Who from?

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.

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Last updated: 09 Aug 2016