House on sale for 9 months, got a recent offer and agreed sale, housing estate (30 houses - fully occupied, well maintained, no major issues apart from a sewerage leak in one house 4 years ago with no re-occurrence after it was fixed).
Builders in trouble (they setup the management company which is now disolved) - Sewerage and Water is with the Counties Council and in the process of getting the estate handed over but because the builder have no money this is causing problems.
Our purchasers pulled out on advice of their solicitor because of the one sewerage problem and there is no mangement in place. We've lived there for 5 years and there has never been any upkeep issues.
We emigrated outside of EU last February and have now run out of savings to keep the mortgage payments up each month.
No idea what to do now, the offer was 152 and we owe 159 to the bank so we'd even organized the shortfall of 7k with family.
We don't want and can't afford to be landlords...we need to sell the house..we're currently paying rent that's equates to our mortgage payments in Ireland so it's just not sustainable. How should we deal with the banks when we are abroad? do we give them our current address - if we default and have no choice but to let them have the house will they extend their arms outside the EU? We've made every effort to sell the house just to clear the mortgage including covering a 7k shortfall...i think we are on 6% interest variable with PTSB currently which will only end up going up.. I have already contacted the bank asking them to accept 152k but no response, also requested the 3 months off payments but no response - figure it's hard to deal with them when your outside the EU and looking for anybody with advice in a similar situation...thanks for any advice/replies.
Builders in trouble (they setup the management company which is now disolved) - Sewerage and Water is with the Counties Council and in the process of getting the estate handed over but because the builder have no money this is causing problems.
Our purchasers pulled out on advice of their solicitor because of the one sewerage problem and there is no mangement in place. We've lived there for 5 years and there has never been any upkeep issues.
We emigrated outside of EU last February and have now run out of savings to keep the mortgage payments up each month.
No idea what to do now, the offer was 152 and we owe 159 to the bank so we'd even organized the shortfall of 7k with family.
We don't want and can't afford to be landlords...we need to sell the house..we're currently paying rent that's equates to our mortgage payments in Ireland so it's just not sustainable. How should we deal with the banks when we are abroad? do we give them our current address - if we default and have no choice but to let them have the house will they extend their arms outside the EU? We've made every effort to sell the house just to clear the mortgage including covering a 7k shortfall...i think we are on 6% interest variable with PTSB currently which will only end up going up.. I have already contacted the bank asking them to accept 152k but no response, also requested the 3 months off payments but no response - figure it's hard to deal with them when your outside the EU and looking for anybody with advice in a similar situation...thanks for any advice/replies.