millertime
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We have a rental property which we have to supplement the mortgage by €500 per month. Every year we keep it, we're losing €6k plus the interest of circa €10,000.
The loan is with KBC.
If we sell it, we'll obviously be carrying a shortfall on the loan of circa €50K.
My questions are:
The loan is with KBC.
If we sell it, we'll obviously be carrying a shortfall on the loan of circa €50K.
My questions are:
- Would KBC consent to a sale?
- How would they deal with the shortfall?? Would they look to secure it on something else?
- Any other suggestions?