Mortgage stress creeps on you when you spend more than the recommended proportion of your income on your instalments. It’s often an early sign of a homeowner who may end up in a mortgagee sale. Mortgage stress is often triggered by factors beyond our control like rising interest rates or economic depression. However, the real […]

Many things can cause you to fall into a situation where your mortgage may be in jeopardy; job loss, marital issues, business failure or sickness can cause significant income losses. Any of these could translate to missed mortgage payments which will eventually a mortgagee sale.   But banks engage the mortgagee sale process only when […]

For most New Zealanders buying a home is not just a financial move. It’s also an emotional step that comes with excitement and hope. However, there are instances where the buyer’s circumstances change, and they are no longer able to continue paying their mortgages.   It could be an unforeseen job loss or loss of […]

The prospects of losing your home to a mortgagee sale can be scary. Maybe you are facing financial hardships because you lost a job, or had an unforeseen issue, like loss of business due to pandemics like the coronavirus outbreak. Perhaps you are one of those rare customers who took a home loan that was […]

What happens if you no longer have an income but have bills to pay? That’s not a distant thought especially now that the world is dealing with the biggest economic threat yet – the coronavirus. In New Zealand, tour operators who handled over 50,000 Chinese tourists last February are grappling with significant income losses. Staffers in these establishments are […]

Taking a mortgage is a big financial move, but it’s also exciting and a dream every Kiwi craves to achieve. All the flashy ads on websites and other media, plus conveniently placed home loan payment calculators may make it seem like an easy journey.   But the reality of making consistent payments every month or […]

At the height of the 2008-2009 financial crisis, former Prime Minister John Key rooted for banks to give homeowners up to 12 months of mortgage holidays. It seemed like a great idea. But Martin Hawes’s rebuttal described mortgage holidays as “holidays from hell.” The current coronavirus outbreak is expected to create economic shocks that will impact […]

Facing a mortgagee sale can be a stressful situation. You may have not been able to stop the entire process from the time the lenders issued you with a demand letter and PLA Notice. But many lenders can allow you the option of putting the property on the market with a formal designation “Subject to […]

When you get a mortgage you become a homeowner. However, the lender retains charge over the title of the property until you settle the entire loan according to the contract. The bank can sell your home if you don’t pay your mortgage. It’s called a mortgagee sale.   But banks and other mortgage lenders don’t […]

If you are having trouble paying your mortgage it could mess up your credit rating and land you in mortgage trouble. The possibility of losing your cherished home can be frightening and stressful. You must find a remedy quickly and restore your finances in order to resume regular mortgage payments. But sometimes the bank just […]