Our fixed rate is 5.53% our balance is 282000.00approx, we do seem to be making very little progress on the capital, we dont have any other major debt, its just the homeloan , we never borrowed big other than the house, and it really is just crippling us. we dont overspend, and after filling the outgoings with the bank, which covers the basics, we are -700.00 each month, i dont understand how they think offering this small reduction for a period of time will help?
We bought this house as a home, we could afford it at the time, but now thats changed, i think we maybe better of walking away, i know the debt thats left will follow, but do i even care anymore...not so sure??