considering selling house - advise please!

ceri

I'm seriously considering selling my house to pay off my debts and mortgage and start again. The house sale will cover my debts with no extra money left to me - but that's fine. I'm currently having trouble paying my mortgage payments (well I wouldn't if Northern Rock move the payment date to the 25th but they insist it has to be the 1st). I'm at the wrong end of a £3000 overdraft and am seriously spiralling out of control.

I've been on the council waiting list for about 2 years now so a council house is imminent.

My question is when I finally get a house from the council - do I still have to pay my mortgage payments if I don't live there and if I tell them the house is to be sold and all the money owed will be given to them?

By the way - don't touch Northern Rock!!! they're a waste of space.

They said they could help but they will charge me £800????????

madduck

Before selling your house to clear your debts, why not get some impartial and free advice. CCCS, Payplan or CAB will provide free and impartial debt advice, rather than charge £800 for advice that might not be in the same way that NR would do.

The best way to deal with things might still be to sell up, but before you commit to anything, why not get some advice?

You will get contact details for the 3 charities at the top of the page.

flowerofscotland

I'm not an expert but if you stop paying the mortgage the interest will increase and you may end up in negative equity. The BS won't stop charging interest just because you don't live in the house and you may find that an empty house is harder to sell.

roswell

you need to post your out goings and income, there is no point blaming northern rock for the situaqtion you are in, you knew when you signed the mortgage agreement the amounts and dates that payment was due, the probablem is more likely your spending habbits.