Page 1 of 1
Posted: Tue Sep 15, 2009 6:19 pm
by moofarmer
Can someone tell me what happens if I am in my 4th year of iva and I cannot get a re-mortgage of 85% of value of my home???? I know they can extend the payments to 6 years but what if I can't get a re-mortgage???
Posted: Tue Sep 15, 2009 6:23 pm
by kallis3
Hi,
If you cannot get a remortgage, then your payments will probably be extended for a further year, but then your IVA should be finished.
Perhaps see what it says in your proposal, or have a word with your IP.
Posted: Tue Sep 15, 2009 11:42 pm
by MelanieGiles
That is why you would extend to six years - to pay over additional contributions in lieu of the mortgage.