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#1862402 - 10/17/13 07:34 PM Skip a Payment
dnau Offline
Member
Joined: Jul 2009
Posts: 93
We are going to offer skip a payment during holiday season and just interested in a letter format your bank has used in the past. This is new to us and would like utilize experts opinion on what to have in your letter. Thanks,

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#1862442 - 10/17/13 08:18 PM Re: Skip a Payment dnau
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
You need to get with your legal counsel, as these would be considered modifications to the current credit agreement. It is a little more complex than just mailing them a letter. You have to worry about negative amortization, State law issues, flood issues if secured by improved property, the impact on any credit life or disability insurance, etc., etc.
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