principle1
Registered User
- Messages
- 14
I wonder if you could help me, being a 37-year-old married father of two beautiful girls, I am married to a loving wife and I am in good health, however my life is crumbling around me and I feel a complete failure in life.
I suffer from bouts of depression and have in the past considered suicide as I feel I have failed my wife and kids not only as a father and husband but also as a provider.
You see on the 11th of February last I was threatened with being taken to court in order to have my house, the family home repossessed by our mortgage provider Irish Nationwide Building Society as a result of getting into arrears to the tune of € 16, 676. 26. I did not mean for this to happen, it all started 4 years ago when I was out of work and unable to secure employment for about 18 months.
I foolishly pinned my hopes on a windfall as a result of the sale of the Irish Nationwide (INBS) in order to clear my arrears.
Every passing month results in an increase in mortgage repayments due to crippling interest rate hikes and I unfortunately cannot see light at the end of this tunnel.
I found myself in the devastating situation whereby I was facing loosing the family home as a result of my own failings. This was to be my children’s inheritance something which my wife and I worked so hard throughout the years to provide. I have in the meantime come to a repayment agreement of €225.00 per week with Irish Nationwide which is very steep considering the balance outstanding on our mortgage is €86,000.
I have considered re-mortgaging my property in order to release some of the equity built up over the years, the balance on my mortgage is €86,676 and my property is valued at €380,000, I also have a number of other loans totalling around €20,000 which I am also struggling to repay, my credit rating is severely damaged as a result of my past debts and the only company who will offer us a mortgage is GE Money at an APR of 9.72%, that’s 4% above the average APR of the leading financial institutions today, that means that in order to borrow €120,000.00 to clear my existing mortgage and all other loans it will cost me a total of
I was wondering if you have any advice or solution to my problem as despite the fact that we are both working we continue to struggle week in week out.
I suffer from bouts of depression and have in the past considered suicide as I feel I have failed my wife and kids not only as a father and husband but also as a provider.
You see on the 11th of February last I was threatened with being taken to court in order to have my house, the family home repossessed by our mortgage provider Irish Nationwide Building Society as a result of getting into arrears to the tune of € 16, 676. 26. I did not mean for this to happen, it all started 4 years ago when I was out of work and unable to secure employment for about 18 months.
I foolishly pinned my hopes on a windfall as a result of the sale of the Irish Nationwide (INBS) in order to clear my arrears.
Every passing month results in an increase in mortgage repayments due to crippling interest rate hikes and I unfortunately cannot see light at the end of this tunnel.
I found myself in the devastating situation whereby I was facing loosing the family home as a result of my own failings. This was to be my children’s inheritance something which my wife and I worked so hard throughout the years to provide. I have in the meantime come to a repayment agreement of €225.00 per week with Irish Nationwide which is very steep considering the balance outstanding on our mortgage is €86,000.
I have considered re-mortgaging my property in order to release some of the equity built up over the years, the balance on my mortgage is €86,676 and my property is valued at €380,000, I also have a number of other loans totalling around €20,000 which I am also struggling to repay, my credit rating is severely damaged as a result of my past debts and the only company who will offer us a mortgage is GE Money at an APR of 9.72%, that’s 4% above the average APR of the leading financial institutions today, that means that in order to borrow €120,000.00 to clear my existing mortgage and all other loans it will cost me a total of
I was wondering if you have any advice or solution to my problem as despite the fact that we are both working we continue to struggle week in week out.