What happens if I cannot remortgage ?

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noel

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Post by noel » Mon Jun 11, 2012 6:53 am
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Hi I am 3 years into my iva, and my property gets surveyed on weds ready for the 4th year 70% of equity clause.

As i cannot get a mortgage anywhere to re mortgage, my equity is likely to be in the region of £35k X 70%, what now happens if i cannot raise the £24k?/
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Rich

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Post by Rich » Mon Jun 11, 2012 7:14 am
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HI Noel, what normally happens is that the IVA will be extended for a further 12 months in Lieu of the equity. I hope all works out best wishes Rich
"Always remember that the future comes one day at a time."
IVA completed . Just started a blog, if you get chance please take a look.
http://rich.blogs.iva.co.uk/
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