www.iva.co.uk

Hi All, as you may know we have tried our best to sell our house to stop it from being repossessed abd had a polish family that seemed really interested in the house and was going to put in an offer today but they have decided not to buy our house now so on Thursday our house is being repossessed, we have found a place to go to but can not get in that house for another 3 weeks, would the mortgage people let us have an extention or do u think they just wont care?? I have 2 young children which is making this situation even harder! I have a caravan that we can live in for a while but need some advice and when house does get repossessed is that it?? Can I walk away from the house and not here from the mortage people again??

It is just a nightmare!! Would love to hear from anyone who has or is the the same boat

Just because they are getting a possession order this does not mean an immediate eviction. That is a separate application and can take a few weeks, so you should be fine to hang on for another month.

Is there any equity in the property? If there is going to be a shortfall on the sale, then the mortgage company will pursue you for payment of same.