Hi there, looking at my numbers I think even if I lose my rentals and not even have a shortfall to make (say best case scenario with Bank writing off the debt) when I come out of that I think repaying my €285k mortgage could prove difficult.
Has anyone encountered a situation where say the Bank take a lump sum and agree then to write down the loan to a more manageable level, e.g. I pay €35k and the bank writes mortgage down by another €35k to €210k. At €210k it is manageable and the €35k being proposed would be an interest-free loan so I save on that amount.
Has anyone encountered a situation where say the Bank take a lump sum and agree then to write down the loan to a more manageable level, e.g. I pay €35k and the bank writes mortgage down by another €35k to €210k. At €210k it is manageable and the €35k being proposed would be an interest-free loan so I save on that amount.
