A relation has asked me to sit in on an upcoming meeting that she has with her mortgage lender.
She is currently unemployed has 3 children & separated, but managing to pay back €450 a month to the lender (her actual mortgage repayments are closer to €1000). Arrears are starting to build up on the loan as she's not paying the full capital & interest. In anyones opinion, would the lender look at debt forgiveness in this case? If not, what terms should she be looking to agree with the bank (or is she in any position to look for any terms??). What are her chances of having her home repossesed? Any info much appreciated.
She is currently unemployed has 3 children & separated, but managing to pay back €450 a month to the lender (her actual mortgage repayments are closer to €1000). Arrears are starting to build up on the loan as she's not paying the full capital & interest. In anyones opinion, would the lender look at debt forgiveness in this case? If not, what terms should she be looking to agree with the bank (or is she in any position to look for any terms??). What are her chances of having her home repossesed? Any info much appreciated.