Oh my God I'm in such a mess with my mortgage - please help

neas

When someone displays utter ignorance,aggorance and stupidity... its hard to feel sorry for them.

When people like this go bankrupt taking the easy option its mortgage rates that are rose... to reclaim the loses.

PasturesNew

Snooze wrote: »

:rotfl:

I've read some sarcastic posts in my time but......

Rob

I didn't mean it sarcastically.
That's me being fluffy.
I'm just a great big misunderstood old hector

Married_Mum_of_2

Jesus calm down people!!!

I should have been clearer - we bought the house well BEFORE we took the plunge from secure full-time employment to having our own business and at that time - it looked like we'd be able to cover our mortgage - well not so in these recessional times and now we're in a bit of bother.

It also looked like we'd be able to afford the rent where we moved to - again not so AT THE MOMENT.

I bought furniture and clothes through Next and on a credit card when we were in full time employment and could afford the repayments. I shop on a strict budget now at asda and matalan - we certainly do not live some life of luxury you're all hinting at.

Yes it's stupid to make mistakes and get into debt.

Yes it's even more stupid to start taking some of the money that we invested into our company out to pay our mortgage - trying to prevent the inevitable - that we were going to lose the house and end up in debt.

The only thing we can do now is sell the house quickly, at a loss, move somewhere cheaper to rent - add the debt from the house to the other debts we have and use an IVA to help pay them off.

We can't end our rental contract until september so we cannot move somewhere cheaper until then. But I can't wait to move out of here and start afresh somewhere else.

We'll survive this. A lot of harsh lessons learnt.

Thanks again for all your comments and wise advice!!!

Thanks for the PM loveandlight I have PM'd you back.

PasturesNew

neas wrote: »

What solution, I'd be happy to hear this one...

It probably involves pay-per-view cam sessions while the kids are having a nap.

Want some?

Dithering_Dad

loveandlight wrote: »

I doubt very much whether you are still reading these posts after most people here have had a go at you and torn you apart. You are brave because I wouldn't have even had the nerve to post up a financial problem as I know how vicious a lot of people have become on this board nowadays which is why I hardly bother reading it anymore.

While I would normally agree wholeheartedly with your sentiment, I have to say that in this case I am really finding it difficult to empathise with the OP. It's a bit like a stockmarket trader going onto the DFW board worried that they can't make the finance payments on their Ferrarri because they didn't receive their £1M bonus this year and asking "What should I do?".

The solution to the OP's problem is glaringly obvious - stop paying for child care when you're a full-time SAHM, stop subsiding your tenants while you pay over the odds to live in a flat and start living in the real world where 'seeing the kids for 30 mins per day' takes a very distant back seat to 'keeping a roof over your family's head'. Simple.

Snooze

PasturesNew wrote: »

I didn't mean it sarcastically.
That's me being fluffy.
I'm just a great big misunderstood old hector

:eek:

Are you ill?

Rob

PasturesNew

Married_Mum_of_2 wrote: »

Jesus calm down people!!!

I should have been clearer - we bought the house well BEFORE we took the plunge from secure full-time employment to having our own business and at that time - it looked like we'd be able to cover our mortgage - well not so in these recessional times and now we're in a bit of bother.

It also looked like we'd be able to afford the rent where we moved to - again not so AT THE MOMENT.

I bought furniture and clothes through Next and on a credit card when we were in full time employment and could afford the repayments. I shop on a strict budget now at asda and matalan - we certainly do not live some life of luxury you're all hinting at.

Yes it's stupid to make mistakes and get into debt.

Yes it's even more stupid to start taking some of the money that we invested into our company out to pay our mortgage - trying to prevent the inevitable - that we were going to lose the house and end up in debt.

The only thing we can do now is sell the house quickly, at a loss, move somewhere cheaper to rent - add the debt from the house to the other debts we have and use an IVA to help pay them off.

We can't end our rental contract until september so we cannot move somewhere cheaper until then. But I can't wait to move out of here and start afresh somewhere else.

We'll survive this. A lot of harsh lessons learnt.

Thanks again for all your comments and wise advice!!!

Thanks for the PM loveandlight I have PM'd you back.

Ah, you're back. There was something I thought of, which may or may not be appropriate.

One of your postings hinted at some toy/shop.... is there any way you could work from home developing online sales of those somehow? Through a series of your own website or even on ebay? Working separately, as if you were building your own business as a complete random stranger buying at wholesale prices from your husband and retailing online?

Or even setting up some Toy Parties (like tupperware), where you are owning the business and going out to do local parties. Crack that and you can start to take on others doing the same thing and then you'd just be running the admin side of fulfilling the orders of your agents in your own time based from home.

Just an idea, hard to be spot on without specifics about your OH's business.

I really DID mean the good luck bit in an earlier post.
I suck at communications when it needs to be huggy.

PasturesNew

Snooze wrote: »

:eek:

Are you ill?

Rob

I am never sarcastic. I just have communications issues.
Which prevent me from undertaking actual real, live social interactions (with real people) ... because they misinterpret what I meant/said/intended, leading instantaneously to a complete break down in any friendships.

Really, I'm dangerous in real life like that.

Much better online. I can miff off far less people online than in real life.

Captain_Mainwaring_2

PasturesNew wrote: »

I am never sarcastic. I just have communications issues.
Which prevent me from undertaking actual real, live social interactions (with real people) ... because they misinterpret what I meant/said/intended, leading instantaneously to a complete break down in any friendships.

Really, I'm dangerous in real life like that.

Much better online. I can miff off far less people online than in real life.

Oh that's odd, I can upset people face to face or online, it doesn't really matter to me.

A point worthy of note is that the OP/ husband cannot be Directors of their company is they go pop which may create other difficulties.

AMILLIONDOLLARS

You need to
1. stop borrowing from your company to pay the rent
2. move back to the house as a short term measure
3. find out through planning whether you can set up a small prefab unit so that you husband can work from home (cut lease/liability costs for factory)
4. Sack one of the workers and take-over their position instead ( that will save on wages, maybe run the office
5. cut back on non-essential item, nursery would have to be put on the back burner, if you have sky etc, mobiles these will have to be cut or shop around for a better deal.
5. Cheap brands from supermarket from now on!

Good luck
AMD