Cut loose from the noose

A mortgage can be a life-changing experience.

One day you don't have a care in the world, the next you are up to your eyes in debt and owning your own home.

It's a rite of passage that most people, eventually, go through.

For some though, a mortgage can become a nightmare. Last week's Herald Homes carried nearly five pages of advertisements for mortgagee sales, all printed in gloomy black and white, as if to draw too much attention to them would be unseemly.

As the recession bites and job losses mount, more people are finding the pain of servicing their mortgage difficult to bear. They are increasingly turning to professionals for help.

The message from mortgage brokers is "don't get sad, get even", and don't think that just because you signed away the next 30 years of your life, you are powerless to change your circumstances.

For those willing to take the initiative, there are ways to turn their fortunes around before banks call in their loans.

To read the full NZ Herald story click here

Posted: 15 Mar 2009

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