Augusta
VIP Contributor
When once you start missing your real estate mortgage you are being deliquent towards payment of your loans. Just like you have the advantage of getting a mortgage if you don't pay back yout mortgage you would be at a disadvantage.
The below are the disadvantages of real estate mortgage deliquency.
Just for a start, the lenders will not hesitate to charge late fees.
Risk of being in default, with continuous non payment, this will no longer be a deliquent case but the lender might just have to declare that your mortgage is in default.
Last resort,a foreclosure proceedings might begins for them to sell your home as they take it away from you.
The below are the disadvantages of real estate mortgage deliquency.
Just for a start, the lenders will not hesitate to charge late fees.
Risk of being in default, with continuous non payment, this will no longer be a deliquent case but the lender might just have to declare that your mortgage is in default.
Last resort,a foreclosure proceedings might begins for them to sell your home as they take it away from you.
