I think it unlikely that the lender will call in the loan. They don't really like taking back properties!
Telling them in advance will probably help you, and longer term giving them a plan on how you are going to recover will help.
I have had clients who have fallen behind and have done this and it has worked twice with one guy - the third time he said he was going to sell a property they didn't beleive him and wanted him off the books, but it took around 12 months before they started action.
Telling them in advance will probably help you, and longer term giving them a plan on how you are going to recover will help.
I have had clients who have fallen behind and have done this and it has worked twice with one guy - the third time he said he was going to sell a property they didn't beleive him and wanted him off the books, but it took around 12 months before they started action.
