How do you cope when you can't move?

going_nowhere_fast

martin2345uk wrote: »

Isn't that just because it's basically income..?

Have to say, I really admire you OP, your attitude is amazing and I don't know if I could stay as positive as you, it's inspiring.

Thank you - half the time i dont feel positive, i feel utterly fed up and like i willbe stuck here forever. Mse is a lifeline.

Must keeping thinking of the future

going_nowhere_fast

BigAunty wrote: »

To the OP (sorry if I've missed something relevant posted earlier in the thread).

Have you sought expert debt management advice from a specialist charity? Or posted a Statement of Affairs on the Debt Free Wanabee forum? It is worth getting expert advice on your debts to see if you can come up with a better strategy, perhaps negotiating full and final settlements with creditors at a partial sum owed or finding out if you can get any written off?.

I will also dig up some information that I regular post to anxious and stressed people about meditation, mindfulness and so forth which can help retrain a mind into accepting upsets but having a more balanced response to them (i.e., these techniques don't tell you to ignore issues but how not to get so caught up in them that you end up having automated, negative patterns of thought).

I have agreed payment plans and all interest is stopped. Would be interesting to see if i could pay a smaller lump sum in full and final settlement. How do i know ho much to offer? Is it likely to be accepted if the debts are with the original creditor (ie not with collection agencies)?

going_nowhere_fast

BigAunty thanks for your post. I will take a look at the link.

I do try deep breathing exercises and clearing my mind but not very successfully - its hard to concentrate with constant noise.

Shovel_Lad

going_nowhere_fast wrote: »

Have i made an ok choice financially when i bought this house?

Ive found out that almost everyone round here rents and im wondering if that means i messed up by buying.

Bought house for £80k and have spent around £5k improving it
Mortgage is £223 a month
If i was to sell now housf would be worth £70k as a buy to let or around £75k for a first time buyer - am making these estimates based on advice from local estate agents

To rent a tiny house like mine is between £450 and £475 a month and the houses are never as nice as mine as obviously i maintain and decorate mine

Have i messed up or is the fact that my mortgage is half what it would cost to rent mean that ive made an ok choice?

I know this is a pointless question but am asking anyway!!

Just catching up with the thread.

You say you're not in a position to move at the moment.
How much do you owe on your mortgage? How long have you lived there?

ETA
Is it a repayment or interest only mortgage?

going_nowhere_fast

Shovel_Lad wrote: »

Just catching up with the thread.

You say you're not in a position to move at the moment.
How much do you owe on your mortgage? How long have you lived there?

ETA
Is it a repayment or interest only mortgage?

Its repayment and outstanding mortgage is £60k
I have two defaults on my credit file (nothing to do with mortgage) - advice i was given by mortgage advisors is wait two years then i would be able to get a new mortgage to move.

BigAunty

going_nowhere_fast wrote: »

I have two defaults on my credit file (nothing to do with mortgage) - advice i was given by mortgage advisors is wait two years then i would be able to get a new mortgage to move.

Check on the Debt Free wanabee board about whether you can repair your credit record before this period of waiting.

Ask for a copy of your credit record from Experian or similar in the meantime.

Shovel_Lad

going_nowhere_fast wrote: »

Its repayment and outstanding mortgage is £60k
I have two defaults on my credit file (nothing to do with mortgage) - advice i was given by mortgage advisors is wait two years then i would be able to get a new mortgage to move.

So you're not in negative equity (good).
I completely understand you don't want to sell and move to somewhere rented. But..

I guess the question you need to ask is - can I cope with continuing to live here until I can afford to move (pay off debt/save up something extra for a deposit) or do I sell now and rent?
You have to decide what's most important to you.

If you were thinking of renting do check http://www.turn2us.org.uk/ to see if you would get help towards the rent/council tax.

going_nowhere_fast

Shovel_Lad wrote: »

So you're not in negative equity (good).
I completely understand you don't want to sell and move to somewhere rented. But..

I guess the question you need to ask is - can I cope with continuing to live here until I can afford to move (pay off debt/save up something extra for a deposit) or do I sell now and rent?
You have to decide what's most important to you.

If you were thinking of renting do check http://www.turn2us.org.uk/ to see if you would get help towards the rent/council tax.

I looked at moving to rented earlier in the year and it wouldnt help for several reasons. I wouldnt be entitled to any financial help towards the rent which would be double my mortgage unless my house was repossesed.

I couldnt rent my own house out because the only people who would choose to live here are undesirables - i think my lovely house would end up trashed.

And finally if i did rent my budget would only allow for a small terraced in the kind of area im trying to get away from so im likely to experience the same problems.

Im trying to over pay debts as and when i can to pay them off as quickley as i can. I need rid of them to move.

going_nowhere_fast

Will post about repairing credit file like you suggest on the board... Off i go now

going_nowhere_fast

I have also looked at part exchange for a new build - all the developers said the same thing they only do that if the houses are selling and with the governments help to buy scheme its not necessary.