I am really pleased everything worked out for you I hope you don't mind me asking but did the or query your mortgage payment and suggest you could rent or was it not mentioned as I am considering br but afraid that he will ask us too see the property and move into rented accomodation although we are in negative equity at the moment to the tune of about £4000 and with the way things are going likely to be more.
Hello, Yes that sounds like us too. So far no-one has said anything or even mentioned it. I will be switching to an interest only mortgage soon, when we split up but for now they dont know that. Someone mentioned that its rare for them to make you do this, only in extreme circumstances. Dont forget though that I am only 17 days in! Let me know how you fare, I'd imagine that you will be okay.
As you are in neg. eq. there is every chance that you will be able to keep your property, particularly as prices are generally in free fall. Of course, if you keep the property and end up selling the property at a later date for less than you owe the mortgage co. any mortgage shortfall would still be a liability for you as you would have retained the property and been continuing to make mortgae payments.
a question for trolly dolly
Posted - 10 September 2008 : 18:56:51
