Housing and Real Estate

The most important thing is to avoid entering a cycle of debt default as it multiplies and is becoming more difficult to reduce

Get extra income

Often, the solutions proposed by the bank, the customer can pay your mortgage and the possibility remains but a bad memory. If not, as they weigh alternatives, it is important to get the money to avoid default. Among these, the first is to find work and the second is a loan to a relative or a friend, although it is likely that this has already been done. What options are then?

- Renting a room in the house would get extra income to the family. It is true that it is uncomfortable sharing the house with a stranger, but the options are few. If you can get 200 or 300 euros per month, would be closer to paying the installments. If the room is compounded by the food and clean clothes from the tenant, ie, full board, the revenue would increase to 600 euros or more.

- Another option is to rent the complete house and the owner of it is outside the home of relatives. The revenue would be higher and, even if a nuisance, it could be a temporary solution to their problems. But there are many houses for rent, so it should be priced cheaper to rent it as quickly as required in these cases.

- Now if any of these options is possible or not worth, the person can sell anything of value, like the car. It can be very uncomfortable travel by public transport from certain places or neighborhoods and perhaps the time is spent twice, but options are limited. The sale of gold or jewelry for a commitment of time can also take the family out of trouble.

Although all of these alternatives seem desperate to be taken into account that the other possibility would definitely lose the house, the other present and future assets and jeopardize the assets of the guarantors but with this the debt is paid.