Can anyone help me
Due to serious issues with the local constabulary and a close family member, we need to move to get out of the area so that the family member cannot find us, can we do this when we have no equity in the house and 4 years left, would we even get a new mortgage on a new house,
You would need to get your IP's permission to sell the house, but I am sure under the circumstances that wouldn't be a problem.
However, if you are in negative equity you will end up owing money to the building society as well as your IVA. Have you thought about cutting your losses and going bankrupt?
You will find it difficult to get a mortgage whilst in an IVA and you would need a hefty deposit on a house.
However, you could think about renting.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Could you rent out your current property to cover the mortgage, and then rent another property in a more desirable area until you are out of the negative equity scenario?
