What Solution is Available when you are not able to Pay
The best thing to do at this time is to get in touch with your lender immediately. Some may choose not to respond to the lenders mail or even return the lender’s phone calls. A good number of people do not deem it necessary to talk with their lenders concerning their conditions while some will perceive they can handle the situation in the absence of the lender.
Think of re-mortgaging; it could be workable to obtain a mortgage that lowers your payments or ties you to a fixed rate contract, which in turn grants you the security of fixed monthly repayments. Another choice to ponder on is loan period extension. Discuss with an independent financial adviser on what solution is best suited for you.