J
JamesFlyn
Guest
I have a small number of investment properties that are now in negative equity.
Some have been on "interest only" mortgage repayments up to now, with the rental income almost exactly covering the repayments. The bank has now put the "interest only" mortgages onto "interest & principal" repayments so I am going into arrears.
I'd like to get some professional advice on how best to resolve this over the coming years with the bank.
My question is what kind of advisor is best for this situation and how do I find a recommended one in the Dublin Area?
I've heard of a group called "new beginnings" but from their website they seem to help out at the end of the process, e.g. after a judgement has been registered. I'd like to work out how best to resolve this, possibly using the new insolvency legislation, if it applies to my circumstance.
Sorry if this is already addressed elsewhere on the board - I haven't spotted it. Any help much appreciated - it has become quite a stressful situation.
Some have been on "interest only" mortgage repayments up to now, with the rental income almost exactly covering the repayments. The bank has now put the "interest only" mortgages onto "interest & principal" repayments so I am going into arrears.
I'd like to get some professional advice on how best to resolve this over the coming years with the bank.
My question is what kind of advisor is best for this situation and how do I find a recommended one in the Dublin Area?
I've heard of a group called "new beginnings" but from their website they seem to help out at the end of the process, e.g. after a judgement has been registered. I'd like to work out how best to resolve this, possibly using the new insolvency legislation, if it applies to my circumstance.
Sorry if this is already addressed elsewhere on the board - I haven't spotted it. Any help much appreciated - it has become quite a stressful situation.
