100% Mortgages

silvercar

La_Contessa wrote: »

no adivce ....but you is da man....... I just posted a question and someone just asked me if I could really afford a 25 year mortgage....

I wanted to know best deals on a 90% self cert ltv :eek: ......I mean I'm self employed and i want some advice y'now....tut tut..

From another thread:

La_Contessa wrote:

I am not sure what to say or how to voice my fears.

I was doing really well and helped my sis out of a sticky situation, but now it has landed me in the dog doings, as she did not contribute financially to the situation I got her out of, as she promised she would when I stepped in to help her...is a long story...however I am now in a debt nightmare. I have several properties but one is not performing, and I was going to sell it off when its special rate ran out but along comes this credit crunch and properties are sitting doing nothing, not a good time to sell.

the other houses are let out, performing well and covering each other, but one is not, it was used as a temporary cash cow, which would have been fine if sis had fulfilled her side of bargain financially to me. Now I am trying to find a way out... I have an excellent credit history, all payments up to date but after this month. I am so upset, and feel so alone, I don't how I am going to cope if nothing short of a miracle occurs. I have worked so hard, I keep crying all the time as I don't what to do

bottom line what I want to know is if I stop paying mortgage on this one particular house, and try to sell it via auction or whichever way, will this affect my other houses, ie will the bank make me sell the other ones, even though their payments will be fine and covered.. will I lose it all just over one house, can I file bankruptcy for just one debt or will I lose all properties what are my options. I know my credit history will be ruined...but at least I can save the other properties and leave them for a few years till things settle as they are paying for themselves.

I am sorry I have not been very clear but I am really panicking now... any advice will be gratefully received. I am so glad I have found this forum.. It helps just connecting with you all


please help

Clearly it was reasonable to suggest you may not be able to afford to increase your debt.

La_Contessa

silvercar wrote: »

From another thread:




Clearly it was reasonable to suggest you may not be able to afford to increase your debt.

I think you need to read my last post, and I am looking for help not judgement.... my problem come from being toooo helpful

La_Contessa

and I can afford to increase my debt I just don't really want to right now if I can help it and if that means offloading this house somehow then so be it.. but if it jeopardises everything I have worked hard for over all these years and through so many difficulties then what was it all about... if I had not been subjected to what I was put through via the actions of others, then I would not be in this particular difficulty

I think carefully about everything I do, and action I take, which is why i am taking this so hard.

meanmachine_2

La_Contessa wrote: »

no adivce ....but you is da man....... I just posted a question and someone just asked me if I could really afford a 25 year mortgage....

I wanted to know best deals on a 90% self cert ltv :eek: ......I mean I'm self employed and i want some advice y'now....tut tut..

One debt junkie trying to get succour from another.

Dear oh dear.

The upshot of this original thread was that the OP could only get a mortgage at a crippling 8.4%.

And yet he still didn't want anyone telling him that he should WAIT and save.