hardship provisions available to stop defaults

anyone experiencing difficulties with home loan repayments, should be aware there are 'hardship provisions' that will stop or delay mortgage repossessions

all lenders must provide this
I am aware of people being bullied by the banks, with the
banks not disclosing the option of a 'hardship provision' available to the borrower

have a client, with the lender one of the big4, threatened with repossession, a temporary problem....they were not advised of the HP....when they became aware, the bank backed down, bank cannot take action against them, whilst the bank is reviewing their hardship application...

I am aware of people who have taken up this facility, having the interest added to the loan, capitalised for a period of at least 6 months or more...whilst they re-arrange their affairs, get their affairs in order, sell the house, or find a job...fix the problem.

so long as they can show, they will eventually be able to meet their obligations...their application will be allowed

I believe the number of mortgage delinquents is low, compared to the number of loans out there....but with the gfc mark 2 still a long way to go, carbon tax, massive energy bills, some people will be under mortgage stress...
particularly those about to lose their jobs due to the imposition of the carbon tax, and the dire economic situation facing most of businessess atm...

I wonder how many of the reposessed property owners were aware of the hardship provision help available to them...