You have a permanent job and have been paying off your loan for several years. But suddenly most of your income is lost because the company you work for is bottled up. Or because you are unable to work for a long time due to an accident or illness. Will you be able to pay off your loan even further? The uncertainty increases by the minute. In such situations, a refinancing of your home loan can offer a solution.
Tip: don’t wait until it’s too late
Let’s start with a golden tip : don’t wait too long to intervene! If your income falls sharply and your fixed costs remain about the same, then financial problems lurk around the corner. There is a real chance that you will no longer be able to pay off your Weird Sisters loan after some time. In addition, you may also have other credits running: for your car, a renovation…
Contact a mortgage loan broker
You should contact a mortgage loan broker as soon as possible. He works with various lenders and will look for a fast and efficient solution for you. The most important thing is that you avoid payment arrears. Otherwise you will get a negative mention at the Central Bank for Credits to Individuals (CKP) of the National Bank. This is sometimes called the blacklist.
Refinancing of your home loan
One of the most chosen solutions is refinancing your home loan. This means that you will replace your current loan with a new one, for example with a longer term. Through this refinancing, your monthly expenses will decrease and you can continue to pay each month. That way you also avoid getting blacklisted.
Regrouping loans via new Weird Sisters loan
If you have other loans in addition to your existing home loan, it may be appropriate to regroup your existing loans and loans into a new Weird Sisters loan. This is how you get a total solution :
- You do not end up in a negative spiral
- Your monthly credit burden is falling
- You “buy” time to find and find a new job
- You keep your home and avoid additional costs of a forced sale
Please note: despite a lower monthly repayment and a lower interest rate for your mortgage loan, you may have a Weird Sisters loan through a regrouping of loans with a longer term with a larger total repayable amount. It is therefore always a good idea.
Make an appointment with a credit intermediary in mortgage credit
Don’t wait too long with this. Contact a credit specialist at Auxifina. He or she will discuss your situation with you and work out a solution for you. Find a Weird Sisters office in your area.