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Negative Equity Nightmare
Comments
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Liverpool house prices have risen 8% over the last 10yrs so a decrease in 30k seems an unrealistic valuation. If it were 300k originally a 30k drop would be a 10% decrease and I doubt it cost that much for housing association in Liverpool so a 30 k drop is probably considerably more than 10%. When did you last have it valued? Your figures seem outdated.
It's about a 36% decrease in value. When I bought it in 2008 I think house prices were at a high, it was valued at £89,000. Now it has been valued at approximately £55,000. I've asked them to come and value it again before I out it back up for sale but I don't think there's much chance of it having gone up.0 -
25% share in a £55k property...? £13,750-worth?It's about a 36% decrease in value. When I bought it in 2008 I think house prices were at a high, it was valued at £89,000. Now it has been valued at approximately £55,000. I've asked them to come and value it again before I out it back up for sale but I don't think there's much chance of it having gone up.
Wow.0 -
Who owns your husbands property just him? or does he rent?
Bankruptcy is a way of walking away from your debts but be aware there are consequences, like not getting credit, and having to declare it in certain situations (like starting a business).
You'd also be reliant on your husband if he owns his own property
i.e. if you did divorce he doesn't have to provide you with accomodation anymore.
Does he rent or own?
Why can't you live in yours?
Believe me I live in London and some of the serviced appartments I've stayed in are a masterclass in minaturisation, so I don't think you really can't live there, I think you don't want to.
Could you live there and him not pay rent on his place? or does he own?
Sorry for questions but we need that infor in order to help/make suggestions.0 -
It's about a 36% decrease in value. When I bought it in 2008 I think house prices were at a high, it was valued at £89,000. Now it has been valued at approximately £55,000. I've asked them to come and value it again before I out it back up for sale but I don't think there's much chance of it having gone up.
Ouch......0
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