Mortgage shortfall

roswell

Im interesting in knowing where you got a house for 47 K and borrowed 61K , firstly your very bad at maths because that doesnt make 127% and secondly this smells of wind up to me.

Madjock

If this is genuine then there has to be at least 30% of that mortgage that was unsecured, so there's no negative equity problem with selling, it just means you can't pay off the unsecured. Personally, I've never heard of a mortgage over 125%, but 127% does add up to about £60,500.
Does seem like a load of betty swollocks though.

pokemon151

Other than that, you're looking at bankruptcy

Is it such a Bad thing then I can start all over end start enjoying life and doing things with the kids because I would have more money.
I'll phone on Monday and see when the early penalty fees expire.
Fortunately other than the basics I dont own anything as it is all in the fiances house and used for us and the kids. When I buy something it becomes hers. (in a sence of speaking)
The flat is only a 1 bedroomed and would be abit crowded for all of us.
I'll look up posts on declairing yourself bankrupt and see what it entales

Bosworth

Wondered if there was an update on your situation, pokemon?