There are few things that can match the pride you feel when you own your own house, but what happens if you can’t actually afford to keep making mortgage payments on said property?
Before you freak out about being kicked out of your home, here are some practical steps you can take to resolve the situation with as little stress as possible.
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Though post-secondary school itself typically only lasts between 3 and 6 years (depending on program and level of study), student loans can linger for decades past graduation. Depending on how much you owe, the monthly payments can be a huge burden on your finances. So what happens if you default on your student loan payments?
If you find yourself no longer able to make your loan payments, here’s what you can expect to happen (and what you can do to protect yourself).
Continue reading “Student Loan Payments: What Happens When You Default?”