Security is on family home and there are two other properties owned.
While the information requested above needs to be provided, I would also like to know:
What was the Borrowers' original plan for repaying this bullet loan, when they borrowed the money?
Why has that plan now charged ?
Did the bank grant mortgage on the back of this type of security ie guarantee of some future payment?Borrowers original plan for repayment was he was in business with other guy (construction) at that time and was due payment but never received it for various reasons then recession hit so no hope of paying it back within shorter time frame.
....many are in terrible stressful situations because of worry like this.
You need to provide the following information to get meaningful replies
Case study - Information required for mortgage arrears and negative equity questions
Please copy and paste this post into a new thread. If you give comprehensive information, it will maximise your chances of getting comprehensive and useful results. Income details Net monthly (i.e. after tax) Income self: nature of income e.g. self-employed/public servant...www.askaboutmoney.com
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?