'The Greater Fool Theory: Does it apply to house purchases...' blog discussion

zarazara

I agree, but what about the person who just needs to buy to have somewhere to live?

macs1985

hi all we baught a 3 bed house in oct 2007 on an intrest only mortage and are now in negitive equity any ideas?

JimmyTheWig

macs1985 wrote: »

hi all we baught a 3 bed house in oct 2007 on an intrest only mortage and are now in negitive equity any ideas?

There's probably better places on the site to post this, and we'd need a lot more detail to give a decent answer, but in a nutshell I'd say do everything you can to reduce your mortgage.
Sell stuff you don't need.
Work longer hours / extra jobs.
Use the different areas of this site to get your bills down.
Take in a lodger.