belle1. You and other posters are not going to be very happy with my post but anyway I will state my position.
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Just going back to my original post last night, I need to write the letter to bank this week. Any opinions as to what I should put in the letter?
To expect that the bank will do noting while you save up the money to move abroad is a bit unrealistic I think...
I cannot bring myself to support or encourage this. Sorry and it is only my view?.
I wish them the best of luck collecting that from you in your new country.Also he said that we would be liable for the shortfall if house was sold.
We just got a call from UB in relation to the letter we sent to them re VS on house.
The guy said that a relationship manager will be in contact with us in the next two weeks to arrange a meeting. They mentioned meeting us in our house. Does anyone know if we can meet at the local branch instead?
Houses in our area have recently sold for 100k or less. We actually owe 255k plus arrears. The guy on the phone mentioned maybe they can arrange an IO payment for the next 3/5 years but this still doesnt sort out our problem. We will never get the mortgage paid off with such high NE.
I suppose Im just looking for some suggestions as to how to handle this meeting? The bones of it is we do not want the house. We are emigrating either way. Also he said that we would be liable for the shortfall if house was sold.
Any opinions?
Hi CiaranK
thanks a mill for your post, to be honest the other day when I got the call from the bank, I wasnt the better of it after! I started to feel like maybe this was all our fault and maybe we could pay a little bit more, but my husband and I sat down, went thru the figures and there is just no way this mortgage is sustainable. Anyway, its just the intimidation I could feel on the phone, I know these guy are only doing their job....
Just one thing im not sure about....do u think we should tell the bank we have tenents in? Up to this point we had been handing the rental income over to the bank but we are saving it now. Probably no point in telling them we are renting but Im scared they might get suspicious as we cancelled our TRS and they might wonder why we did that...ay thoughts
Up to this point we had been handing the rental income over to the bank but we are saving it now.
Probably no point in telling them we are renting but Im scared they might get suspicious as we cancelled our TRS and they might wonder why we did that
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