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A quick Sale ....HELP !!!!!
zelig
Posts: 78 Forumite
Hi All - need a bit of advice from you lovely people.
I am single and in my 50`s and....yes its true the majority of people in debt (according to a CAB poll) are older blokes ...me no exception !! and see no need to keep struggling with mortgages etc
I need to sell my house soon as I am in arrears 3 months both with Mortgage and secured loan .. that both have now given me a verbal warning that if things dont improve ...they will pass my account on to their litigation dept.
My house is worth (market value) £90,000 and I owe £53000 to mortgae and £37000 to secured loan.
That said ..I have had the house on the market for the last 2 months with no offers ......I am keen to at least sell it before the repo man comes in and am ready to drop the price (secured loan people have said they will take what they can and if not the full ammount will turn the rest into unsecured debts)
Any advice or contacts would be most gratefull as Xmas looms and have been struggling since last Xmas ...I really want to have a stress free holiday this year .....going to visit my 83 yr old mum !!!:j
Ta All
zelig
I am single and in my 50`s and....yes its true the majority of people in debt (according to a CAB poll) are older blokes ...me no exception !! and see no need to keep struggling with mortgages etc
I need to sell my house soon as I am in arrears 3 months both with Mortgage and secured loan .. that both have now given me a verbal warning that if things dont improve ...they will pass my account on to their litigation dept.
My house is worth (market value) £90,000 and I owe £53000 to mortgae and £37000 to secured loan.
That said ..I have had the house on the market for the last 2 months with no offers ......I am keen to at least sell it before the repo man comes in and am ready to drop the price (secured loan people have said they will take what they can and if not the full ammount will turn the rest into unsecured debts)
Any advice or contacts would be most gratefull as Xmas looms and have been struggling since last Xmas ...I really want to have a stress free holiday this year .....going to visit my 83 yr old mum !!!:j
Ta All
zelig
0
Comments
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Raise the price.Been away for a while.0
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Thanks ....I did however expect a bit more of a serious suggestion0
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OK. Lower the price.Been away for a while.0
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My house is worth (market value) £90,000I have had the house on the market for the last 2 months with no offers
Therefore:
You need to drop the price, but not too much - otherwise your secured loan lenders will chase you for the excess for the rest of your life - better to just go bankrupt and tell them to spin on it.My house is not worth (market value) £90,000poppy100 -
Yes I reckon thats a good idea poppy10 - its obvious however that Running Horse doesnt suffer the kind of stress I have... by his frivolous remarks!
Its good when you can sleep a full night without waking isnt it !!
z0 -
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If you are feeling brave put a rightmove link on here. Plenty of people to advise if you are showing it in the best light.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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Yes! Rightmove link! Rightmove link! Rightmove link! Rightmove link!Mortgage debt - [STRIKE]£8,811.47 [/STRIKE] Paid off!0
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You could stick it in an auction with a reserve. See if it goes.
Although at the moment, in most areas, it looks like 55-65% of properties are selling at auction, so, like everything, there's no guarantees.0 -
Thanks for the advice - will chase this option up
Ta
Zelig0
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