Transcript: What Is Arrearage? Well arrearage is just simply a term that means the amount of your mortgage that’s in default, and that just means the amount of unpaid mortgage payments. Let’s say that you had a mortgage payment of $1,000 a month, and you had missed three months of payments. Well, your arrearage is …
Transcript: What are my options if my mortgage is higher than my income? If your mortgage is higher than your income, you’ve got an obvious, very serious problem with your finances – and that needs to be corrected immediately. And there must have been something that happened in your life that caused that situation – …
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