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Re-mortgage but with arrears
grayclose31
Posts: 121 Forumite
I have 6 weeks arrears on my mortgage and got into some financial difficulty 2 years ago. I have an agreement with payplan to pay off my debts. I also have a second charge on my mortgage with about 8k left on it.
My house is worth 140k and the mortgage i have is for 73k plus the second charge.
If i could re-mortgage i would be able to clear all my debts and end up paying out less each month.
This is my problem and i don't know if i will be able to do what i want due to the circumstances.
Currently paying off my mortgage + 2nd charge + arrears + Payplan does not leave much to get by on. If i could re-mortgage i think i would be much better of from one month to the next.
It seems like i am currently getting no place due to all the fees i am paying from the debtors i have.
Does anyone have any suggestions?
Thanks
My house is worth 140k and the mortgage i have is for 73k plus the second charge.
If i could re-mortgage i would be able to clear all my debts and end up paying out less each month.
This is my problem and i don't know if i will be able to do what i want due to the circumstances.
Currently paying off my mortgage + 2nd charge + arrears + Payplan does not leave much to get by on. If i could re-mortgage i think i would be much better of from one month to the next.
It seems like i am currently getting no place due to all the fees i am paying from the debtors i have.
Does anyone have any suggestions?
Thanks
0
Comments
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please let me know if i am in the wrong forum.
Thanks0 -
What is your income? Age?
Sub prime rates are currently high.
Maybe you would be better off going to the Debt Free Wannabe board.0 -
How much is the second charge?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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