Quote:
Originally Posted by Yellow_Festiva
I'm in that boat.
I called ANZ last week and asked if there were any options to defer mortgage payments for a month or 2 while the slump in casual work was happening.
NO was their reply.
So I pressed a little harder... suggesting that if I deferred my payment for 1-3 months they could add that to the term of the loan.
Oh, yes, you can do that, I could also have a payment plan, breaking my repayments into smaller ones spread out.
BUT. they will need to report me to the credit rating people as a default.
Much the same as if I simply did nothing and refused to pay.
Wonderful people aren't they... those few months will have the world of difference in a 20 year loan.
All the banking help seems catered to business customers.
Lets see what happens this week... I'm sure I'm not the only one worried about where the next loan repayment will come from.
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How good are they? I'm looking forward to their non flexibility causing a ****load of mortgage defaults and they all flood the market with repossessed houses
The damage that this will cause is immense if we cop huge numbers of casual job losses, imagine if the hospitality industry closes.