Hi,
Was just wondering if anyone has any advice to offer about my situation. Bought a house in 07 for €257,000, had to move out in 08 as I lost my job and we couldn't afford to pay the mortgage. Got a job in Dec 08 on a substantially lower salary. We moved back with her parents and are there since. House is now valued at €140,000. Mortgage with EBS.
Been in 3 times to EBS to try to get a moratorium or interest only, but no joy. Filled out the standard financial thing, manager said he didn't see our situation improving after 12 months so as far as he was concerned we have a roof over our heads and the mortgage is getting paid (seriously, his exact words).
Problem is that this is now causing friction between me and my wife, as I want us to try sell the house (I don't see the point in paying for a house we can never live in) and for us to try get on with our lives. Big question is, would EBS do a deal on the negative equity?? We have no arrears but if we moved back in we'd be in trouble straight away. Would they look at that as strategic defaulting? Selling the house would be pointless if they tried to force us to pay back 100k negative equity....
Anyone have a similar experience?
Was just wondering if anyone has any advice to offer about my situation. Bought a house in 07 for €257,000, had to move out in 08 as I lost my job and we couldn't afford to pay the mortgage. Got a job in Dec 08 on a substantially lower salary. We moved back with her parents and are there since. House is now valued at €140,000. Mortgage with EBS.
Been in 3 times to EBS to try to get a moratorium or interest only, but no joy. Filled out the standard financial thing, manager said he didn't see our situation improving after 12 months so as far as he was concerned we have a roof over our heads and the mortgage is getting paid (seriously, his exact words).
Problem is that this is now causing friction between me and my wife, as I want us to try sell the house (I don't see the point in paying for a house we can never live in) and for us to try get on with our lives. Big question is, would EBS do a deal on the negative equity?? We have no arrears but if we moved back in we'd be in trouble straight away. Would they look at that as strategic defaulting? Selling the house would be pointless if they tried to force us to pay back 100k negative equity....
Anyone have a similar experience?