Frances Cook

But first of all, know that the bank doesn't actually want to sell your house from under you.

I get that question all the time.

Is the bank going to get me in trouble?

If you just keep paying your mortgage,

the bank will leave you alone for the vast majority of situations.

I can't even think of a situation where that wouldn't be happening.

So first of all, don't panic.

You're not going to be in trouble with the bank.

Just keep paying the mortgage.

If you run into a situation where you do need to sell for whatever reason, the first thing to do is talk to the bank because the bank also doesn't want a mortgagee sale or a rushed sale or for you to sell and still owe them money.

They want that sweet, sweet interest.

They want to bring something out.

They want that sweet, sweet interest.

I do.

It's a pain in the butt for them as well to sell it.

So talk to them.

And if you're scared to talk to them, talk to a mortgage advisor because there's many options to help you with negative equity.

Thank you so much.

This podcast can only give you general information about how things work in most situations.

It's not individual financial advice.