Saturday, November 22, 2008:Hi all out there,
I am in the situation at the moment that I will have problems paying my mortgage for the forseeable future, (this isn't the issue here)
What has really stunned me is the response I had from my bank of 8yrs, when I told the Director of my new problem she eventually
offered to extend my mortgage by 10 years, this would give me a saving on my payments(1,100.00Euros)per month to approx 800.00
I do have tennants in this property who are paying 500Euros a month(I know the figures are rubish but when needs must!)
Anyway this difference was still not payable by myself, these figures include the usual 1%commision and 2%commision to do the
changes, I told her I could not pay so she kindly sugested that I borrowed the money off my mother !!
Luckly for me I have a friend(yes only one!) who told me that the CAM could do much more than offered and proceded to tell me about the product
etc. When I put this to my bank,after her suprise that I knew about this she agreed that it was a possibility!!!! The result being that my payments are
now 525.00Euros a month,most of which will be paid by the tennants.Over all this 'product' will not cost me a huge amount. Has anyone else had similar problems
or even better does anyone have the; BANKS SECRET GUIDE TO HELPING BOOK !??
I would like to hear all opinions and possible other bank products, as I also have a mortgage on the house I live in and soon will have a similar problem,although
not the CAM.(if anyone wants the details on said product please ask, in my opinion this should not be a secret.
Baxter
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