i have partners where 2 out of 3 people want to stop paying the mortgage, is it advisable to approach the bank about this, continue to make payment and try to get title/ownership to the property ? what usually happens in this case based on your experience ?
thanks in advance for any advice on this matter.
If you’re the one interested in buying it would probably be a good idea to see if the bank would do a loan mod. It will be hard because the property is not owner occupied (I assume) but you never know till you inquire.
Good luck,
donrock
what is the financial hardship involved?
with help on that - you can visit sites like www.financehardship.com or something.
Financial hardship is 1 person runs out of money, can’t find a job whereas another person has reserves but do not want to continue paying unless everyone can pay. Will this make sense to contact the bank ?