According to the UsaToday nearly 58% of those with delinquent mortgages don't actively seek help from their lenders because they don't know that the lenders may offer some type of help or remedy.
Another 56% don't know that some sort of counseling is available. Most don't know that a missed mortgage payment can be added to the back end of the mortgage and thereby extending the term.
Other obstacles surface because the lender is unable to contact the delinquent mortgage holder and offer help.
It would seem that no remedy is readily available however communication between the homeowner and lender is the first step towards finding a remedy. There needs to be more counseling between mortgage holder and customer during the loan closing process. Communication should be stressed.
Mel Richardson
Melvin21@msn.com
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