Mortgage relief for Queenslanders

25/01/2010

The Queensland government has a loan program for struggling owner occupiers with homes worth less than $450,000 to help them stay in their home.

The Department of Housing mortgage relief loans are for a maximum of $12,000, which has to repaid within 10 years.

Repayments are not required for the first 12 months. After that, you are required to make regular monthly repayments, in addition to maintaining your home loan repayment.

The mortgage relief loans are for people experiencing difficulties with their home loan repayments, as a result of an unforeseen change in their circumstances including unemployment, accident, illness or some other crisis.

There are no application fees or ongoing charges payable but you must be able to demonstrate that you have exhausted all other avenues of assistance.

Applying first aid to your finances could mean the difference between losing your home in 2010 and living happily ever after in it.

Don’t become a statistic – get on top of things now, because there is plenty of help available.

Source: Sunday Mail

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