- Joined
- May 30, 2018
- Messages
- 2
Hi there,
I'm hoping to find some information that will help me point my elderly neighbour in the right direction.
In 2001 she took a 1 year interest only mortgage. The contract ended, she was never presented with a new one or told that the balance was due. She's continued making monthly payments for the 16 years since the contract expired and the lenders have kept accepting payments.
To date, she's paid 40,820.00 on top of the whole amount the mortgage was for.
I don't have the slightest idea what kind of help she needs, if any.
Someone suggested she just stop paying but I'd hate for her to lose everything.
I'm hoping to find some information that will help me point my elderly neighbour in the right direction.
In 2001 she took a 1 year interest only mortgage. The contract ended, she was never presented with a new one or told that the balance was due. She's continued making monthly payments for the 16 years since the contract expired and the lenders have kept accepting payments.
To date, she's paid 40,820.00 on top of the whole amount the mortgage was for.
I don't have the slightest idea what kind of help she needs, if any.
Someone suggested she just stop paying but I'd hate for her to lose everything.