Do you have an investment property that is now worth less than the loan taken out to finance the purchase?
Have you sold the properties and are now owing a large amount to the bank?
Have you wondered whether the debt can be settled for less than the amount you owe?
We recently helped a family settle their mortgage shortfall debt with the mortgage insurer. This article explains how we did it.
When a property is sold and there is a mortgage shortfall, the bank claims on the insurance policy and the insurer then chases the borrower for the mortgage shortfall debt.
We have written in the past about how we have assisted clients settle mortgage shortfall debts, you can view them here and here. We are constantly helping clients settle mortgage shortfalls and this is another example of how we helped. Background Information We were contacted by Tim and Sarah (not their real names) about a debt… Read more »
