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Response to Missing A Payment

from Lee (repossession@bigfoot.com)
How much pressure you will face depends on who the lender is and the the terms of your mortgage. Some mortgages include terms to ramp the interest rate if you miss payments. Specialist lenders and mainstream lenders that practice "active arrears management" (eg Cheltenham & Gloucester Lloyds TSB) also cmoe down pretty heavily on customers who are late with one payment.

But all lenders write to you to ask what the Hell is happening when you miss a payment.

The Who Helps? section includes an arrears advisor form that will try to tell you how far into arrears you can get before your particular lender gets concerned. It does, however, only help for those lenders where we have information.

Hope this helps,

Lee

(posted 8819 days ago)

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