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Negative equity and emigrating
bernie_inn
Posts: 30 Forumite
Hi I have been offered a job in Australia which I intend to take, The problem is I have my mortgage and a secured loan on my house which has taken it into negative equity. I am also on a DMP for other debts. The question is what is the best course of action to take I could rent the house out and cover the rest of the mortgage myself but I would not be able to afford to pay the full mortgage if there were no tenants. I could see if the bank would allow me to sell the house and then work out an arrangment for any shortfall? Does anybody have any ideas?
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