B
burgh
Guest
Hi
Mortgage =300K with 32 years left
Current estimated Worth =250K
Savings=130K
Single person.
Have a job and can pay the Mortgage
Ok rate on the mortgage 1/2 tracker 1/2 variable
My own personal view is that the house will never be worth the same in real terms again and not in 5 years time.
Goal= Location wise I would like to move to a nicer area.
My question is would it be foolish to sell now spend up to 50 or 70 K getting rid of negative equity? Or should I ride it out? Is there a standard wisdom that I am missing on this situation?
I would appreciate your opinions.
[FONT="]thks[/FONT]
Mortgage =300K with 32 years left
Current estimated Worth =250K
Savings=130K
Single person.
Have a job and can pay the Mortgage
Ok rate on the mortgage 1/2 tracker 1/2 variable
My own personal view is that the house will never be worth the same in real terms again and not in 5 years time.
Goal= Location wise I would like to move to a nicer area.
My question is would it be foolish to sell now spend up to 50 or 70 K getting rid of negative equity? Or should I ride it out? Is there a standard wisdom that I am missing on this situation?
I would appreciate your opinions.
[FONT="]thks[/FONT]