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Handing the keys back!
MichMoor
Posts: 159 Forumite
Hello All,
Some more help requested please.
Having split from the wife who is still in the house I am paying half of everything for and moved into the familiy home, I am finding it a real struggle now.
The problem is the mortage, believe stuck with about 20k worth of negative equity and loans, credit card, overdraft on top of that.
If I did not have the mortgage thins be a lot easier, £1100 a month for mortgage. Neither of us want the house, both accepted not going to buy again and it looks like house prices going to take another fall, on market not even had a viewer. Starting to think we are just throwing good money after bad in paying the mortgage.
Is it advisable to hand keys back? If anyone here has done it can you tell me your experience, would going BK be inevitable? Is there a alternative, e.g. is it possible to negotiate a repo with the mortgage company?
Your continued advice has been great so far.
Some more help requested please.
Having split from the wife who is still in the house I am paying half of everything for and moved into the familiy home, I am finding it a real struggle now.
The problem is the mortage, believe stuck with about 20k worth of negative equity and loans, credit card, overdraft on top of that.
If I did not have the mortgage thins be a lot easier, £1100 a month for mortgage. Neither of us want the house, both accepted not going to buy again and it looks like house prices going to take another fall, on market not even had a viewer. Starting to think we are just throwing good money after bad in paying the mortgage.
Is it advisable to hand keys back? If anyone here has done it can you tell me your experience, would going BK be inevitable? Is there a alternative, e.g. is it possible to negotiate a repo with the mortgage company?
Your continued advice has been great so far.
0
Comments
-
Hi
Not too sure on this one but someone will be able to help just wanted to say dont do anything rash they will still chase you for the mortgage shortfall and you would be effectively be homeless have you spoken to Debt Charity National Debt Line are very good are you paying your creditors before your Mortgage some moe info if you want to give it may help0 -
Whoops
Noticed you have been moved to a different forum someone here will help you0 -
So far up to date with all payments, but not going to be able to continue for much longer. I am not living in house, estranged wife is tho she spends most of time at her new partners. I can carry on at my parents and my sisters have offered a room in her house if need be.
I know they will pursue for shortfall but will prob go BK then, to be honest I think I am going to end up there anyhow, just delaying inevitable by struggling with mortgage. There are no kids involved.
Cheers0 -
Hi looked you up again I really think you need some good advice you can call National Debt Line or CCCS have look on line if you prefer they have fact sheets to read and it may help you to see thing differently0
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