PHOTO: Mortgage
I don’t often write this, but your lender is your friend.
If you are suffering financial hardship and look like losing your job as the whole country grinds to a Coronavirus-induced halt, PLEASE call them.
Banks and financial institutions have long been required to offer hardship provisions to ease the burden if customers find themselves in financial difficulty. After all, it is in their best interests to get the money owed somehow – even if more slowly.
Institutions began taking this obligation far more seriously after the Hayne royal commission slammed them for their unconscionable actions last year. And amid this global pandemic – which is now not just medical but financial – they will be even more lenient.Advertisement
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