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Financial difficulty with mortgage repayments - HELP!

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    #32
    bobbbb
    Closed Accounts Posts: 507 ✭✭✭bobbbb


    The way i see it you're going to have to take some decisions you may not like.

    Even though you dont want to, you seriously have to look at renting a room or 2. Even to a relative. Or even convert your living room to a bedroom for a while. You've got to be flexible and take action instead of saying what you wont do.

    If you lose the house you will have to rent a much smaller place and will have no room anyway.

    You also must go to a solicitor about your ex.
    Even if you do get the mortgage back on track by yourself then he'll still own half the house. He may not run away then, he'll be back when you have paid much of the mortgage off yourself to get half of the house. Also get the solicitor onto him about maintenance.


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    #33
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    bobbbb wrote: »
    The way i see it you're going to have to take some decisions you may not like.

    Even though you dont want to, you seriously have to look at renting a room or 2. Even to a relative. Or even convert your living room to a bedroom for a while. You've got to be flexible and take action instead of saying what you wont do.

    If you lose the house you will have to rent a much smaller place and will have no room anyway.

    You also must go to a solicitor about your ex.
    Even if you do get the mortgage back on track by yourself then he'll still own half the house. He may not run away then, he'll be back when you have paid much of the mortgage off yourself to get half of the house. Also get the solicitor onto him about maintenance.

    /thread.


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    #34
    purple17
    Registered Users Posts: 39 ✭purple17


    Hi all

    Really appreciate all your advice. If you seen how small my house and the position of my bedrooms you'd understand why renting out a room wasnt desirable for me. The 3rd box room is at the front of the house and the 2 other bedrooms are right beside each other at back of the house so wud baby in room next to me. I will consider renting to students mid week as i really wud love to stay where i am and would live with the incovenience to get me through.
    I was basically just asking for advice cos im a bit disheartened as to how bank are reacting. Wud they just be pushing back on me and maybe might be more helpful if i went to mabs and got them to get onto them. Just thought they'd prefer to help as much as possible rather than repossess house or have me part paying off mortgage by selling house and still owing them money!!

    Thanks again, ill get on top of things somehow!!


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    #35
    ZYX
    Registered Users Posts: 882 ✭✭✭ZYX


    Rojomcdojo wrote: »
    50k over ten years is alot less than 1-200k over the same period.
    Not necessarily a lot less. If she gets approval for an unsecured loan of €50,000, which is a huge if, she would be expected to pay at least 10% interest a year. Her mortgage rate would be more like 4%.


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