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OK I am going to be very unpopular but if it helps other people on here ... who cares
We have a huge secured second mortgage with the above .. OH has had 2 redundancies in 18 months .. but thats old news.. now self employed.
Came on MSE over a year ago , did the usual thing , hung onto our home by our fingertips for over 2 years.
After Xmas we got to the stage where we have no option but to sell.. FP gave us a 3 month 50% reduction on our repayments, we had no arrears
Our home has gone on the market yesterday, we will have a bit of equity hopefully after the sale, trust me its small and we will be renting for the rest of our lives
From start to finish I have kept FP informed , asked for the reduction in payments before we got into arrears, we signed the paperwork and we will pay them back... no we didn.t buy PPI ,we bought stand alone policy
Talked to their HO today .. explained what we are doing..
Their HO told me there is an option in place for people who still owe them money after the sale of their home , hopefully this won't happen in our case but maybe for someone in minimal negative equity on secured loans it might work out better than repo , or a panic sell and rent back..in this case
PLEASE DO NOT GO THERE..70% is a rip off!
FP will give you a settlement figure for 28 days.. if this runs out they will renew this settlement figure every month if requested, just please if you can make some repayment to them doesn,t matter how much, just do it.
Please don't slate me for this info ....I just hope it may help someone and before someone asks no I don,t work for FP we just owe them.
We have a huge secured second mortgage with the above .. OH has had 2 redundancies in 18 months .. but thats old news.. now self employed.
Came on MSE over a year ago , did the usual thing , hung onto our home by our fingertips for over 2 years.
After Xmas we got to the stage where we have no option but to sell.. FP gave us a 3 month 50% reduction on our repayments, we had no arrears
Our home has gone on the market yesterday, we will have a bit of equity hopefully after the sale, trust me its small and we will be renting for the rest of our lives
From start to finish I have kept FP informed , asked for the reduction in payments before we got into arrears, we signed the paperwork and we will pay them back... no we didn.t buy PPI ,we bought stand alone policy
Talked to their HO today .. explained what we are doing..
Their HO told me there is an option in place for people who still owe them money after the sale of their home , hopefully this won't happen in our case but maybe for someone in minimal negative equity on secured loans it might work out better than repo , or a panic sell and rent back..in this case
PLEASE DO NOT GO THERE..70% is a rip off!
FP will give you a settlement figure for 28 days.. if this runs out they will renew this settlement figure every month if requested, just please if you can make some repayment to them doesn,t matter how much, just do it.
Please don't slate me for this info ....I just hope it may help someone and before someone asks no I don,t work for FP we just owe them.
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