We have a home loan with Liberty that has been in arrears. They offered to write the arrears into the loan so that we now do not have to kill ourselves paying the arrears as well as the monthly repayments. We need to get onto a loan with a normal lender and a cheaper rate how can we do this? Looking at a loan value ratio of 90%. We can afford the loan on a normal interest rate just not on 12%. We had some severe financial problems in the past and we have now got rid of everything and are focusing on the home loan. Please someone help.
I need financial assistance or i will lose my home and my husband?
Do not follow their advise. They are trying to earn more interest not only on your monthly arrear payments, but also on the late fees etc. Look, I cannot give you a good answer on this, because I do not have much info on your overall finances.
But 12% interest rate is really suicidal. First there are non-profit credit bureaus that can help you , and i mean non-profit ones. They can most likely negotiate a better rate for you even with your lender. If you see a brick of wall, but always resort as last thing to Bankruptcy. This is not the best solution, but it could be your only solution.
Hope that helps, and good luck.
I need financial assistance or i will lose my home and my husband?
You will have to use one of the professional services. It is nearly impossible to do this without help.
There are three companies that I would recommend. You can read about them here.
http://www.loansourcesforbadcredit.com/d...
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