These are tough times. Sometimes you may feel trapped and depressed, especially if the bills are piling up. The National Housing Trust (NHT) does not want your mortgage payment to be one of those bills that cause you great distress. The NHT can work with you to help you remain a homeowner.
Janet’s (not real name) story is one with which many persons can identify. She lost her job and had no support system to help maintain her mortgage. Janet was however determined not to throw her hands up in desperation. She was in constant dialogue with the NHT. Although her arrears were increasing, all hope was not lost. Janet finally got a contract job and worked out an affordable payment arrangement with the NHT. Janet’s mortgage was rescheduled to allow her to pay her arrears and regular mortgage. She now has to make higher monthly payments, but at a level that she can afford. Janet was happy that she was able to keep her house.
Like Janet, once you find yourself in financial difficulty, talk to the NHT. The NHT will offer you financial counseling, and try to find a solution that will help you to keep on track with your payments.
Remember, if you miss a monthly payment or your payments are late, you will be required to pay a late fee after the 15th day, and after 90 days, your mortgage will be deemed to be in serious arrears – you definitely don’t want that to happen.
The NHT is trying to help you keep your home. Loan management officers have been doing a series of mortgage management seminars in NHT schemes. Residents are able to receive updates on their accounts, and hear more about the mortgage repayment options. Listen out for the mortgage management meeting in your community soon.
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