Help: Need urgent advice 22 November 2006 at 2:23PM in Mortgage-free wannabe 3 replies 801 views

benedictadams

Hi everyone

Was gonna to send my contract back to the soliciters today

but have since found out that maybe by the new year i could be out of a job, or it could be by March 2007, as they are moving the office to India

I would be able to get 4 months repayments out of the redunancy

but should i go ahead

If i don't send back the contract i lose the solicitors fees

but i don't want to be in a position of losing my home if i can't find a new job

Please can anyone advise

mountainofdebt

The thing is:

how quickly do you think you could get another job?

what would you live on if you use all your redundancy package on your mortgage repayments?

what were your reasons for moving?


Personally I think that I would be prepared to lose the solicitors fees rather than potentially lose my home - but that's just my feelings.

Hope you come to a decision which you feel happy with.

benedictadams

this was going to be my first home

I won't be happy with either decision

but i would be more heart-broken if i lost the house after a few months of living there

am dreading phoning the solicitors tomorrow though

roswell

Personnaly id loose the fees rather than deal with repo and possibly negative equity if the property is sold lower than the price you pay at auction.