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what happens to my house?
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o99
Posts: 44 Forumite
Hi all, I'm a bit new to all of this and in a spot of bother.
I currently owe in the region of £65k to personal loans and credit cards. I have a house that is mortgaged and like many others at the moment is in negative equity.
I may be about to loose my job and will have no income.
My wife can afford the mortgage payment. What is likely to happen to the house?
I currently owe in the region of £65k to personal loans and credit cards. I have a house that is mortgaged and like many others at the moment is in negative equity.
I may be about to loose my job and will have no income.
My wife can afford the mortgage payment. What is likely to happen to the house?
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Comments
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If you wife can afford the mortgage payments, then you should be able to keep your house. Are there any joint debts at all?Get free advice before embarking on bankruptcy: CCCS 0800 138 1111 National Debtline 0808 808 4000
Business Debt Line 0800 197 6026 CAB Insolvency Service- 0845 602 9848"He who laughs last didn't get it!" :rotfl:BSC 134
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Merry_Gentry wrote: »If you wife can afford the mortgage payments, then you should be able to keep your house. Are there any joint debts at all?
No, the whole lot is down to me. What is the deciding factor on the house or is it a case by case issue?0 -
Well if there are no arrears, your wife will probably be allowed to buy your Beneficial Interest for something like £250 plus £1 - I believe that is the amount when it's in negative equity.Get free advice before embarking on bankruptcy: CCCS 0800 138 1111 National Debtline 0808 808 4000
Business Debt Line 0800 197 6026 CAB Insolvency Service- 0845 602 9848"He who laughs last didn't get it!" :rotfl:BSC 134
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Thanks for the advice.0
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