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cannot afford mortgage repayment

bobby11 · 2016-03-27 20:39:14

We fell into arrears a few years ago. We went on interest only for 2 years. now we have to go back to paying full amount it's 1400 and we cannot afford this. I can make this month with the help of a family member but worry is for the future repayments. I have worked out we could repay 900. selling up is not an option. can…

27-03-2016 9:39pm

#1

bobby11

Registered Users Posts: 12 ✭

Join Date: January 2011

Posts: 8

We fell into arrears a few years ago. We went on interest only for 2 years. now we have to go back to paying full amount it's 1400 and we cannot afford this. I can make this month with the help of a family member but worry is for the future repayments. I have worked out we could repay 900. selling up is not an option.
can I ask the bank to consider a 900 repayment or will this just bring them down harder on us and see us as an easy target to repossession.

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Comments

#2 27-03-2016 9:42pm

Stheno

Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,688 Mod ✭✭✭✭

Join Date: July 2004

Posts: 49074

Have you asked MABS if they can help you in dealing with the bank?

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#3 27-03-2016 9:50pm

bobby11

Registered Users Posts: 12 ✭

Join Date: January 2011

Posts: 8

No. hadn't thought of them. il get onto them next week.thanks.

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#4 27-03-2016 9:55pm

Water John

Registered Users, Registered Users 2 Posts: 21,606 ✭✭✭✭

Join Date: May 2014

Posts: 21591

Link up the Pheonix Project. They do good work in this area.

http://www.phoenixproject.ie/

Best Wishes.

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