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Laid Off: What Happens to Mortgage?

My husband just got laid off from his job of thirteen years. I don't think we can handle our mortgage anymore. What's next?


Unless you have an insurance policy that pays for this period of unemployment, call your mortgage lender. Explain what happened and have your financial information available. It is possible they'll want to know what income sources you have and what bills need to be paid. Lenders are more likely to work with borrowers now than ever before. Now please, call your lender right away.

Published on BankingQuestions.com 12/10/08