| When you miss a mortgage payment you have | | | | money down. So what happens when you lose four |
| virtually assured the bank that you really do not care | | | | or five days of work due to illness? Does your boss |
| about your home. So they will automatically flag your | | | | pay you anyway? I seriously doubt it. No work equals |
| account as being potentially poor. When another | | | | no check in most industries. |
| creditor inquires about your mortgage history, the first | | | | So what do we do now that we are going to be short |
| thing that goes through their mind is "How can I give | | | | the pay for those days? Guess what? If you send the |
| these folks credit based on the fact they cannot even | | | | mortgage company a partial payment that would not |
| make their house payment on time. Do NOT miss a | | | | sit too well. So what is the answer? The utility |
| mortgage payment. | | | | companies do not report to the credit bureaus (unless |
| Two things come to mind here. Some of you | | | | they have to send your account to collections). So if |
| remember when you were a kid your mom telling you | | | | you find yourself short of funds, call the electric, phone |
| "if you do not have enough money, send everybody a | | | | and cable companies and let them know you are |
| little bit". Good advice then, but not so good now. | | | | going to be short of funds. |
| Mortgage companies don't really want to share if you | | | | Most utilities will gladly spread your payment over the |
| get my gist. Here is some advice that might help if you | | | | next three payments. They will work with you. Now |
| do have this problem. | | | | you probably have enough money to pay the |
| Ninety-seven percent of the population depends on a | | | | mortgage. Most predatory lenders count on your |
| weekly or bi-weekly paycheck to make ends meet. | | | | missing a payment. |
| That's why we are trying to buy a home with no | | | | |