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What should I do if I have trouble paying the monthly mortgage?

Verified 09 September 2022 - Legal and Administrative Information Directorate (Prime Minister)

If you have temporary difficulties to repay your mortgage, you can take several steps to find a solution.

You can ask your creditor (e.g. the bank) to grant you payment terms.

To do this, you must send a request for payment deadlines, preferably by registered mail with acknowledgement of receipt.

FYI  

The creditor is not obliged to accept your request.

You can use this letter template:

Ask your bank for payment deadlines to repay your credits

You may use your mortgage insurance (borrower insurance).

Your insurance contract (death, disability, disability or job loss guarantee) may provide for the payment of your monthly credit. If this is the case, you can avoid having to pay penalties for unpaid monthly payments. These penalties are generally provided for by real estate credit agreements.

You can ask the court to suspend your mortgage repayment during a grace period not more than 2 years, and without incurring any additional fees or penalties. The court may grant you such a suspension, particularly if you have been dismissed.

To do this, you must court and provide him with the documents proving your difficulties (proof of resources, expenses and refunds in progress...).

FYI  

Monthly payments that you do not pay as a result of the suspension will not be claimed at the end of the grace period. They can be carried over to the end of your credit or rescheduled over the remaining term of your credit.

If you can't manage your debts, or if you know that you won't be able to meet them, you can file debt overhang.

This is the case, for example, when the suspension of monthly payments granted to you by the court did not resolve your difficulties.

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