Thanks for that and there is no fear of me jumping ship and leaving debts for others to absorb. That kind of thing is what has this country the way it is. I am an ordinary housewife with strong principles and i always try to do whats right .
Not true - there are people with unsecured loans going through the courts every day (though usually these are for bigger amounts than in question here).Unsecured loans are exactly that. The banks have no comeback on you
Truethey know the cost of pursuing you would be prohibitive relative to the amounts concerned.
Don't think so - they have long memories for PPS numbers.By the time you come back it'll be forgotten.
There is also my husband to think of - how he would have his life back being able to work and not sitting around all day falling deeper into depression.
Sorry to be a realist but if you bought in 2006 as you say - (end of 2006 was peak based on my observations) you would be unusual if seling house pays off mortgage even allowing for 4 years repaymnest. So personal loans may be the least of your worries . Just another very important assumption you seem to be making.
Is that right? Does it not depend on your initial LTV & term of mortgage, rather than current house prices. I'm not sure some of the advice on here is very helpful or accurate.
yes it is right
Term is more or less irrevelant as in first 4 years you are mainly paying interest unless its very unusual like 10 year term.
Most of us know that most peope borrowed the maximum. Given op stated financial position i doubt they had much equity.
Of course currnet prices matter - she is going to sell it!! and Equally most people overestimate the value of their house as they feel attached to it which is what OP needs to consider.
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