My 80 year old aunt has a mortgage. She had a second mortgage with another bank that went under. The property is seven acres, with a modified mobile on it. She cannot afford to make her payment to the lender, yet it is being automatically withdrawn from her bank account. Is it possible that the loan was made with the auto payment as part of the mortgage deal?
Many loans are set up to have the payments automatically debited. Many lenders offer loans that provide an incentive, such as a lower interest rate, when the payment is set up to automatically be debited from the account.
Call the creditor and advise him of your aunt's situation. If the payment isn't made automatically, some other arrangements will need to be made. This also applies to whomever has that second lien loan as well. That loan is out there somewhere, and someone wants the payments. Perhaps when you have either lender on the phone you can ask about any programs they have available to refinance these, perhaps consolidating them, into a more affordable payment.
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Many loans are set up to have the payments automatically debited. Many lenders offer loans that provide an incentive, such as a lower interest rate, when the payment is set up to automatically be debited from the account.