I really dont know which way to jump!!!

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jane.l

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Post by jane.l » Wed Mar 07, 2007 10:08 am
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your situation, unfortunately, sounds similar to mine. we have a 120% mortgage and a secured loan but only minimal, if any equity, we are trying to sell the house and get an IVA, its a nightmare, the final solution is, if all else fails, to move to rented accomodation, and just let the house get repossessed, either by the mortgage company or the secured loan company, we are hoping that the secured loan company agree to the house sale, they originally said we could not sell! bankruptcy is still an option if everything goes wrong and then they will get hardly anything
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steven.m

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Post by steven.m » Thu Mar 08, 2007 5:48 pm
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sorry to hear your plight Jane.
we are in talks to get an IVA which is a step forward. My worry is the damn secured loan which will still be a millstone especially as my kids are not getting any smaller
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