I am going to sell my house and rent it back.

Burlesque_Babe

Ok, I'm going to pull together some of the questions which have been asked. They are important.

- How old are you

- is your mortgage repayment or interest only

- could you take in a lodger

-could your workshop be used to generate an income of some sorts?

- Did you ring the CCCS after you found them to be engaged earlier

- what are your other outgoings in your SOA

- How much is outstanding on your mortgage

- What is the value of your property

- How much is your secured loan per month, how much is outstanding, what is the APR

- What did the CAB say


sorry to list them, but if you can give us the answers to the questions which have been asked over the thread, we can help.

Whilst becoming debt free, we all get fed up of being skint. I'm now debt free but whilst getting there, I lived on £120 per month for food for 2 of us, cooked every day, planned meals to the letter. Never went out and took on a second job. It is hard work becoming debt free.

Please re-read this thread from the beginning and see the re-curring message
- DO NOT SELL YOUR HOUSE TO ONE OF THESE COMPANIES. YOU WILL QUITE POSSIBLY BE HOMELESS IN 6 MONTHS.

Sorry to use caps, but you have been given loads of great advice and you still seem stuck on finding somebody - anybody - who will say ' yes, use one of these companies, they are a godsend and the answer to all your problems for the rest of your life'.

I know how hard it is - trust me I cleared 25k of debt. However, you need to focus and answer the questions everyone has asked so we can help you move forwards.

Toto

Thank you keren, please Mr S, answer all of the questions Keren has listed before you spend another second googling buy your house for tuppence companies.

(Land_of)_Maz

So many questions but it's only cause we care!

Mr_Spangle_Pants

Keren 29 ! I feel like you are beating some sense into me !! OK give me some time to get it together.

Phew !!!

Burlesque_Babe

It's only cos we care Mr S_P :kisses:

Mr_Spangle_Pants

- How old are you 51

- is your mortgage repayment or interest only interest only

- could you take in a lodger No

-could your workshop be used to generate an income of some sorts? Small, I get tired very quickly

- Did you ring the CCCS after you found them to be engaged earlier Yes, still engaged

- what are your other outgoings in your SOA That just about rolls it up

- How much is outstanding on your mortgage £130000

- What is the value of your property £195000

- How much is your secured loan per month, how much is outstanding, what is the APR £225 12.2% £21890

- What did the CAB say Made me a nice cup of tea and I left empty handed

Mr_Spangle_Pants

They are offering 85% of the value on the sell to rent websites, should give me £15,000 and a rent of £700, is that 85% negotiable?

peb

At 51 you may be able to go down the equity release route - not always ideal but at least it is a regulated industry. Ring Norwich Union or Prudential who I think are the main players.

Burlesque_Babe

It's not how much you will get Mr S_P and whether you should negotiate for more but the fact after 6 months you could be turfed out and be homeless. You'll have a few thousand in the bank but will lose the home you love and onlyhave the money in your pocket to start again - is having the money worth the pain of losing your home?

In_Search_Of_Me

Mr S why are you so hell bent on doing this? It feels like whatever people suggest you fail to listen to the fact that you are more than likely to be kicked out after 6 months! Have you continued to try & get through to CCCS following them being engaged? Have you spoken to the friend who owes you £5000? I have to be honest & say that I feel quite frustrated at this stage! People are trying to help you and find solutions but it feels like you are dismissing suggestions If you want people to say yeah go & sell to the sharks we arent going to because we, unlike them, care about you! Even the equity release would be better than that & its worth a look...Are you likely to get better health wise? I really am sorry that this is so tough for you & Mrs S & I'm sorry that you are being bombarded with questions but we're trying to help! CCCS are open until 8 I think so keep trying! Can we help Mrs S at all? What are her thoughts on this? Have you shown her what we have said?