got to sell my house!

cha97michelle · 14 February 2006 at 11:49AM

i don't often post on this board, but felt that i had to say, when i was younger, my parents had to move in with my mums parents for a couple of years with 3 children.

It was cramped, but it was a fab experience for us kids spending more time with our grandparents.

Unfortunately, during the time we were there, my grandad died, so when my parents eventually saved up for a bigger house, my nana moved with us.

don't see it as a bad thing. it could be a very precious time. See it as an advantage to really save, and get yourself back on your feet.

I wish you the best in sorting it all out

Michelle

homespun_3 · 16 February 2006 at 11:17AM

if you would like to have a chat with me and tell me you cercumstances,i may be able to help you,cant promise but who knows.
alan

moonbeam1_2 · 16 February 2006 at 11:34AM

homespun wrote:

if you would like to have a chat with me and tell me you cercumstances,i may be able to help you,cant promise but who knows.
alan

I apologise if this is a genuine offer homespun but poppy please be very wary of giving out any personal details to anybody this could be a company trying to "help" you.

again apologises if you are well meaning homespun but thought I should add a word of caution

skint_smiler · 16 February 2006 at 3:16PM

This has been really interesting to read as I'm in the same situation as Poppy and Egg, and my husband and I have also decided to sell up and move into rented accommodation

It's our secured loans that are crippling us - the £500 a month mortgage is fine, but we're paying an additional £600 in secured loans

I've had to take on an extra job just so we can eat and buy petrol to get to work! The rest all goes on our debts. I'm having to work 60 hours a week at the moment

We've weighed up the pros and cons, and have decided to give up our lovely house to save us that £600 a month. We've figured that we have no quality of life as things stand right now, and our marriage is suffering

if we don't do something now we may end up separating, in which case we'd sell up anyway, so at least this way we're doing something positive!

We're re-mortgaged to the hilt, so selling our property and paying all that off will leave us little equity, maybe a couple of thousand which we will have to use for moving costs and rent deposit etc.

To make matters worse, we're already with a debt management company (PayPlan) because we have £43k of unsecured debt. Unfortunately we don't have enough equity to clear any of this.

But at least getting rid of the secured loans, which are like a noose round our necks

will mean we can start to live again and I can cut down on my hours!! I can't survive for too much longer on 4 hours' sleep a night!

Best of luck to you both, Poppy and Egg - I know just what you're going through, and wish you all the best.

Jo xx
skint_smiler

chocky · 16 February 2006 at 3:41PM

hi poppy, dont worry about what people say, or might say. Its human nature to gossip, but your situation will be a 5 day wonder, then people will find something/someone else to gossip about. Its YOUR life and you're doing the right thing. As for owning 2 houses before - they were just practice runs, next will be 3rd time lucky.

Good luck

egg345 · 16 February 2006 at 10:58PM

Hi Skint Smiler, sorry to hear of you situation. I think you are doing great to be ridding yourself of those secured loans and then all money can be thrown as the unsec ones...good luck! and well done you for working so hard, you deserve a break after al that work,
We are obviously lucky that the equity will clear our debts and still give us 60-70k deposit but we have truly learnt our lesson this time! We are searching for the cheapest house we can happily fit in rather than a large house which we have now but is killing us! we are lucky we live in a lovely rural area so even if the house is a bit small we've got fields to run in and thats free!

Poppy, hows it going did you get in touch with the cc companies etc? let us know how you're doing, thinking of you.

Great advice and support on here as usual everyone! Thanks!

hope_strong · 17 February 2006 at 9:17AM

Poppy

re what people think -

Maybe people will learn what you and your family are doing and go home thoughtful. Maybe it will help them have the courage to take a step like yours.

Being thrifty and doing the right thing, sacrifice, are qualities which have always been admired in the past.

I think they still are, though maybe not openly. But they certainly are on this board! Well done.

-Hope

sammyy · 17 February 2006 at 9:38AM

Poppy I think you're being very brave and doing the right thing while you're still young enough to start again.Imagine entering your fifties and still having all that debt!!As for the issue of what people will think,thats why most people are up to their necks in debt,because we are too worried about what people think and I do think its a state of mind that you have to get away from if you are not going to repeat your past mistakes.Good luck x

crutches · 19 February 2006 at 3:48PM

"what will people think?"

I THINK YOU ARE BRAVE,COURAGEOUS AND SENSIBLE.
within a short time you will give your daughter a debtfree secure start in life,knoeing she can rely on her family when thiings get tough.That is PRICELESS.