Does anyone know if we can get help with Mortgage repayments, due to my husband loosing his job?

Question

Basically, he did not pass his probabtionary period & so now we have only my income (which is not much), so he is unemployed whilst he looks for another job.
Can we get any help? being a homeowner!

Answer 1

I know u can have it frozen for a while and set to interest only payments that would certainly helptill he finds work xx

Answer 2

From the Government website below: 'If you can't meet your mortgage repayments, or you're worried you might fall behind, it's important to contact your lender as soon as possible. Lenders have procedures for tackling payment difficulties and they'll try to help. You can also get free independent advice from other organisations.' This really is the best advice - keep your line of communication with your lender open, so that they're aware of your problems. If you sit tight and say nothing, they have no way of helping you. If you use the weblink below, you will learn of ways in which the mortgage company may be able to assist you. I have to say though, that unless you've a Mortgage Protection Insurance plan in place, nobody will make any payments for you; the help will be by way of either deferring payments, or reducing payments for a limited time. This shortfall will, of course, have to be made-up later.

Answer 3

First of all, apply for unemployment. It can take as little as one to two weeks to start getting at least a little bit of extra cash. I don't know of any mortgage repayment help, but you can go just two months in default before pre-foreclosure status, but you don't want to do that. Budget your money and forego anything and everything. If that means eating ramen noodles everyday and all day, so be it. Don't lose your house. That's the most damaging thing you can do to your credit. Maybe see about getting a second job waiting tables or having your husband get a second job. Try having him deliver newspapers or anything to get any kind of money.

Good luck and keep your head up!! I've been in a similar financial situation before and it's no fun at all, but things will get better.

Answer 4

When my brother became unemployed breifly they paid the interest on the mortgage but not the mortgage itself. Do you have any insurance policies that may cover the repayments while his is unepmployed?

Answer 5

Assuming that you live in the UK and your husband is entitled to Job Seekers allowance or Income Support etc then yes it looks like you'd be eligible for help with the interest charges.

Here are two links:

http://www.dwp.gov.uk/resourcecentre/standard_rate_of_interest.pdf

http://www.dwp.gov.uk/lifeevent/benefits/atoz.asp#h

Answer 6

Not likely. You can fall behind on your mortgage payments by 2 months. If you go beyond that, the mortgage company will begin the paperwork to foreclose.

Answer 7

Hi there we had this problem but didnt look into it but you can get help from income support if you are on low money.We didnt check this out and had to sell due to lack of knowledge.I think your insurance will pay some as well let me know how you get on

Answer 8

Your husband needs to contact social security and inform them of the situation,Also he should be entitled to benefits whilst looking for work job seekers allowance,Must speak to mortgage company and inform them as soon as [possible.This is for the UK only.Best of luck.

Answer 9

He should go & see Jobseekers. You will get help if you have less than £18,000 in savings i.e premium bonds etcYou should also be able to get your rates lowered.

Jobseekers will pay around £54.00 each week which is liable to Tax when he gets a job.

Answer 10

Contact your Mortgage provider - SOONEST!!!!

Do not be the proverbial 'Ostrich'

Depending on:-
the time you have had the loan;
the amount;
the remaining term;

there MAY be a short-term "Work-around" :-)