secured loan?

Josie64

update:
the company phoned this morning , they were offering 70,000 (to clear mortgage is 76,000 which includes redemption fee) and rent back was 450 a month , current mortgage is 443!! so we said no , looks like we are going to sell after all , even though i will 99.9% get the call centre job tomorrow , we are still planning on selling because man from CAB has told us that creditors could put a charge on the house , also we can't really afford to maintain it as well.

homersimpson_3

i can't believe what i'm reading here. first of all avoid secured loans at all costs- your home is at risk. secondly there is a priority of debts (mortgage, council tax, food, clothimg etc)- all the essential things. council tax is priority debt because if you don't pay then can send you to prison- tv licence because huge fine but you could do without telly. why are you even considering paying credit card before mortgage? have you contacted mortgage company and asked them if you can reduce payments for a short while or take short respite whilst you get employment? if mot why not? if so what did they say?

Josie64

homersimpson wrote:

i can't believe what i'm reading here. first of all avoid secured loans at all costs- your home is at risk. secondly there is a priority of debts (mortgage, council tax, food, clothimg etc)- all the essential things. council tax is priority debt because if you don't pay then can send you to prison- tv licence because huge fine but you could do without telly. why are you even considering paying credit card before mortgage? have you contacted mortgage company and asked them if you can reduce payments for a short while or take short respite whilst you get employment? if mot why not? if so what did they say?

home was at risk anyway - repossesion through not paying mortgage , we were only 3 weeks late! ,
1) we only had 180 a week income to pay 300 outgoings
2) credit cards were at 10 a month = 50 , mortgage is 443 a month
3) tv licence hasn't even been missed
4) asked mortgage co if we can have a respite whie I got employment, they are a sub-prime lender and as far as they are concerned they want their money
5) I GOT THE JOB!!! , I start on 14th August!!!:j