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Posted: Thu Jan 10, 2008 6:32 pm
by gill.p
Would my IVA prevent me from moving home. If I sell I will break even, just about pay off the mortgage and will then be renting, my IVA has only just started and want me to remortgage in year 4, if there is not any funds left after paying off the mortgage, will this be allowed.
Posted: Thu Jan 10, 2008 8:39 pm
by MelanieGiles
Hi there
An IVA will not prevent you from moving home, but you need to be careful that this does not affect the level of your payments - ie if your rent were to be more than you are currently paying on your mortgage.
You might be better staying put, as if there is no equity, or only a minimal amount, by year 4 you may bot have to raise anything.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp
See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp