| Partner Organizations A-Z |
 |
|
|
Mortgages
Home Sweet Home…but can you afford it?
Have you purchased a home or are about to? When buying a home, unless you use cash, it involves a loan called a mortgage. A mortgage is a special kind of loan that is used by the lender, usually a bank, as a form of security in case you can’t pay back the borrowed money. In that case, your home is a guarantee for the mortgage. If for some reason, like job loss or unexpected medical or home repair bills, you do not keep up with the mortgage payments your home can be reclaimed by the lender. This process is called foreclosure. Foreclosure means your home is put up for sale by the loan holder to recoup the money you have not paid back.If you are having problems paying back your mortgage or if it has already gone to foreclosure, we can provide information and assistance on how to cope with the situation. If you are having problems budgeting your money to include your mortgage, we can setup a payment plan that takes into account your total expenses. We can also help you to try to re-negotiate your loan terms with your bank.
For more information on Mortgages click on the article links to the right or…..
If you would like to TALK TO A PROFESSIONAL from a Financial Education Consortium organization please click the button to the right. Most organizations offer free or low-cost help from caring counselors who can assist you in determining what steps to take next.
Remember….You Control Your Money!
Helpful Articles on Mortgages
![[bullet]](../site/images/bullet-all.gif){kind=small}
