Equity Release

Mistral001

holly_hobby wrote: »

Okay, well you are currently standing on the edge of a cliff - you have little choice but to speak to your lender (however painful).

Then when you know what the position is, you can start to consider and put in place an escape route - we can't help you much more until you know what the actual situation you are facing is.

Make and appointment go in and try and thrash something out with them ... as the alternative on the info you have provided, may well be the erection of a "for sale" board I'm afraid .... its trite to say it now, but it really was silly to have ignored the shortfall warnings when you recd them, but we are where we are so lets see if we can find a way out of the mess.

Hope this helps

Holly

Thank for the helpful advice. I will have to see them, even though it will be futile I suppose.

BTW, I have looked at the links you gave in your previous post. Some good information there.

Mistral001

I have had a long hard think about things and have come to the conclusion that financial manoeuvres such are equity release are not for me.

I have only one priority at the minute and that is to save my house. Dicussions with bank and other people concerned with finance will have to be kept to a minimum, until my incone starts to creep up again. If the bank or anybody else gets a sniff that I am in trouble, they will be circling like vultures.

Thus I need to just work hard on all fronts: business, renovations and getting money in from debtors.

I need to commence the renovations again. I do not have any spare money to buy materials, but there are some things that I can do with materials left over from previous renovations to the house.

Thrugelmir

Sounds like some positive thinking has been going on. Hope all goes well.

SouthCoast

I have only one priority at the minute and that is to save my house.


http://www.direct.gov.uk/en/HomeAndCommunity/BuyingAndSellingYourHome/Mortgagesandrepossessions/index.htm