Comments on: Mortgage Debts http://www.findfinancialfreedom.com/15/mortgage-debts Your guide to getting yourself out of debt and out of the rat race Tue, 07 Sep 2010 07:37:18 +0000 http://wordpress.org/?v=2.5.1 By: Tristan http://www.findfinancialfreedom.com/15/mortgage-debts#comment-523 Tristan Mon, 02 Jun 2008 14:22:13 +0000 http://www.findfinancialfreedom.com/?p=15#comment-523 I would add a few things to this. In the UK, if you are unable to pay your rent, you will receive no help from the state, however, this is different with mortgages. The state guarantees to pay your mortgage interest for you, as long as you notify the state that you are facing financial difficulty and can make the following nine months payments, they will pay your interest payments for you, indefinitely. You don't get that kind of support if you only rent, the best you could hope for is that the state will re-house you in a low cost local authority property with significantly reduced rent. I would add a few things to this. In the UK, if you are unable to pay your rent, you will receive no help from the state, however, this is different with mortgages.

The state guarantees to pay your mortgage interest for you, as long as you notify the state that you are facing financial difficulty and can make the following nine months payments, they will pay your interest payments for you, indefinitely.

You don’t get that kind of support if you only rent, the best you could hope for is that the state will re-house you in a low cost local authority property with significantly reduced rent.

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