Your home loan is arguably your most important debt and asset ...
Staying on top of home loans repayments should be a priority, as normally one of your biggest monthly contributions; it is difficult to get back on top if you fall behind.
“Everyone finds themselves stretched financially at some stage. With holiday debt still around, school fees just paid and interest rates up you may find yourself with no breathing room and your biggest and most important debt, your home loan, is suddenly a big commitment,” says Patricia Temba, head of collections at FNB Housing Finance.
The very heart of the issue is that your income needs to exceed expenses. The only way in which to make this work is to increase your income or lower your expenses.
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