📊 Stats Tuesday!
I love statistics! My degree was Economics majoring in Econometrics.
So where possible I use stats in communications to make a point.
👉 LATE PAYMENTS / ARREARS
There are a few stages to late payments when it comes to Home and Investment Loans. Like this:
- 1 week late
- 1 month late
- 2 months late
- 3 months+ late
There are an estimated 28,412 mortgages over 3 months late at the "Big 4 Banks" alone at the moment (formula in comment)
Very often, by the time a loan gets behind a couple of months, it gets increasingly harder to catch up, because the amount behind accumulates. Plus extra fees and interest can add to the debt.
🫵 Important Takeaway:
If you're struggling to pay loans, get ahead of the problem!
Lenders may have solutions to help you. Like repayment pause or interest-only periods. Trust me - they do NOT want to force you to sell your home. There is opportunity to work with a lender if a life event has brought financial difficulty.
Read the explanation for this statistic in the comment.
Truly's advice, financial services and property strategies are complimentary. We do this for the best interests of our clients and we relentlessly strive to serve as the best mortgage brokers in Australia with uncommon excellence!
James Brett. Principal Mortgage Broker ☎️ 0439 591 759
Victor Simone. Principal Mortgage Broker ☎️ 0449 659 029
Nermalee Bowe. Senior Mortgage Broker ☎️ 0431 274 554
Dragan Disljenkovic. BD & Relationship Manager ☎️ 0422 435 900
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