Newsletter 2
Don’t stop ‘til you get enough...
A recent FSA survey found that 1 in 5 borrowers expect to suffer mortgage arrears in 2008. It appears in the US, anybody can be caught out. As a Mr M Jackson, of California, recently discovered, obtaining independent advice can prove priceless but ignoring it can leave you on the brink of homelessness!
Don’t worry, You Are Not Alone and it isn’t always that Bad. Read on, this article’s a real Thriller…
The credit crunch appears to be biting hard in the US, with even the Prince of Pop being reigned in by nervy lenders. NBC has reported that MJ will be told to Beat It and sell his Graceland home if he doesn’t pay up the 3 months arrears on his £12.5 million mortgage.
This goes to show that banks are serious and it can be Dangerous to ignore early warnings about arrears but Don't Let It Get You Down. Make sure you Keep The Faith.
The FSA has published a checklist on their website to help you check your budget and make plans for the increase in mortgage payments that is due for 1.4 million borrowers coming off low fixed rates in 2008.
Again, you need independent advice and here at ij we are more than happy to help you with an assessment of affordability for both new and existing borrowers.
Contact Us for more information or to discuss your budgetary needs.
Useful Links
http://www.moneymadeclear.fsa.gov.uk/guides/get_to_grips/get_to_grips_with_your_money.html
Budgeting advice for the FSA’s Consumer Website
Keep in touch
We would ask that you keep us updated with any relevant changes to your circumstances, which may affect your current or future borrowing ability.