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What happens when you can't pay the mortgage?

aliasojo · 2013-01-08 07:27:26

Our mortgage is on a very low tracker rate, the interest is only £60. No option to change to interest only. What's the worst case scenario in the event of difficulty?

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exarmydreamer Posts: 603 Forumite

10 January 2013 at 4:00PM

Have you tried to change to interest only or maybe get a lodger in to help with the bills?. It's normally 3 months of no payments before they start to lose their patience. Good Luck with the job hunting.

Mortgage: Aug 12 £114,984.74 - Jun 14 £94000.00 = Total Payments £20984.74

Albert Einstein - “Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.”
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What happens when you can't pay the mortgage?

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