Get expert opinion. This is the place for new questions to be posted.
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Karen.55
- Posts: 6
- Joined: Fri Jun 29, 2012 11:07 am
I am in my final year of an IVA with DFD and unsure as to what happens now. We havent heard from them re equity release. We have a property worh approx £210,000 and a mortgage of £172,000 and can't see anyone allowing us to re-mortgage. Do we just offer to do an extra 12 months or must we go through the mortgage application process just to be turned down?
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Shining
- Posts: 27019
- Joined: Thu Sep 20, 2007 8:57 am
- Location:
Hi and welcome to the forum. What I had to do and I'm not with DFD was to get a valuation and forward this to my IP. I then had a variation meeting called a I had negative equity. Maybe they'll do the same but with equity you often have to pay 12 month further payments in lieu of this.
Your case officer/IP will be able to give you a definitive answer to this though so do contact them. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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Niobe
- Posts: 5169
- Joined: Tue Jul 03, 2012 9:56 am
- Location:
Agree with Lesley - speak to your supervisor about this.
