People struggling to pay for their mortgage are too scared to seek advice, a professional has said.
Many people with somekeyword packages including somekeyword who will be struggling to satisfy their repayment obligations as a direct consequence from the global tough economy are so scared to publicly reveal their poverty.
That's as outlined by Catherine Hearnden, director inside my Mortgage Direct, that has asserted the level of apprehension gone through a great deal of homeowners with regards to their somekeyword deal is such that they're reluctant to talk out concerning the troubles they are going through.
"They see these reasons for people losing houses and they are fearful of admitting they can't pay their mortgage," she explained.
Ms Hearnden proceeded to state a large number of individuals choose to "bury their heads inside the sand" instead of coping with any outstanding issues because they believe doing this will mean "the lender won't notice".
These comments come as soon as the publication of a survey conducted by YouGov on behalf of nonprofit Shelter a week ago (January 6th 2011), which found out that some two million people across the country have used their bank card to pay for either their mortgage or rent at some point over the last Twelve months.
The My Mortgage Direct official labelled this statistic "very concerning" and urged anyone who is anxious or worried about their situation to communicate with their financier at some point to avoid the issue spiralling unmanageable.
She added how the "only way" so many people must have started borrowing to cover the their repayments is actually their personal circumstances had changed.
"At which point, their first the avenue for call must be to speak to the financial institution, never to start employing charge cards," Ms Hearnden noted.
Meanwhile, the Council of Banks showed recently that the amount of housing repossessions is scheduled to increase this year.
