Can I put a mortgage on hold for 1 to 2 month due a medical circumstance?
January 8, 2008 6:51 AM Subscribe
We're expecting our first child in a matter of months. My wife's employer doesn't provide paid leave so we've tried to rearrange the budget so we can soften the blow of lost income. I had a thought... can you delay a mortgage payment 1 or 2 months and add those months on the end?
posted by timmins to Work & Money (14 answers total) 1 user marked this as a favorite
My wife's employer requires a delivering mother to use their paid time off and any time after that is without pay. They comply with the Family Medical Leave Act where she is guaranteed her job upon return but without short term disability there won't be anything coming in terms of income.
Granted, we're financially stable but our biggest bill (our mortgage) scares us a little and we're trying to find ways to pay it for 2-3 months along with medical bills and needs of a newborn. So, maybe we're just overreacting but we'd like to be better safe than sorry.
So, if we could simply delay payments for 1 or 2 months of the mortgage we'd be more than in clear without one worry financially. Do lenders provide temporary holds of payment and add those to the end of the agreement? I plan on calling to inquire but I'd like to be prepared. Are there any other services that provide this temporary hold?