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Posted: Wed Jul 22, 2015 9:28 am
by Mark.29
We are just about to start yr 5 of a 6 yr iva (nram incisted on this as part of the debt was a together morgage loan) my question is: can they extend to 7 yrs or not. We do have some equity.
Thanks
Posted: Wed Jul 22, 2015 9:31 am
by lifenoteasy
If NRAM is involved and equity is possible then 7 years is not uncommon (unfortunately).
Posted: Wed Jul 22, 2015 9:52 am
by Foggy
With NRAM, 6 years is the base line and the equity extension, if triggered, will go on top of that -- so a 7 year IVA is to be expected.