I was informed by phone PTSB sold my mortgage, and to call belgard solicitors. I didnt call yet, but was to receive a letter either Friday or next week.
I’m looking for advice as to what I should expect. I can’t afford a solicitor and will be represent myself.
I am a single parent, 1 child 8yrs. 3 bedroom house in west dublin . I am paying my mortgage in full 1406.60. Monthly. (Able to afford as renting out a room)
Arrears on property 70,000.
I had ask TSB for a restructure to include arrears for 4 years only, at same payment 1406.60 , as in 4 years I won’t have crèche fess of 650.00 so They could add the arrears onto the org mortgage in 4 years, of payments of 1800.00 per month for 20 years this was approx . They didn’t reply.
Left on Mortgage 300,000
Arrears 70,000
Tracker 2.2%
I can’t afford to lose my home as I cannot afford rent in dublin, can’t leave dublin as job/school here, and I don’t have a car. if I go insolvent and walk away from the house, my daughter and I will have nowhere to live, I don’t know what the housing list is like, but I can imagine.
My ex is gone and not engaging re the house. I read somewhere about a deal with a vulture fund less likely if I am a guarantor on a loan. My ex has a business loan which I am a personal grantee on. I think it’s about 25k. I can’t get off it.
I will also be coming into inheritance later down the line and don’t want to lose this as it’s part pension fund and daughters school/college fund. So again I think I read somewhere if you have inheritance coming your better to go insolvent?? I could be totally misinformed thou.
In your experience,
How quickly would I expect to be brought to court by the vulture fund?
If I did go insolvent, would my ex also have to go insolvent as he is named on the mortgage?
Would the vulture fund see me as high risk and go straight for repossession?
Any advice greatly appreciated or where can I get free advice. I was with mabs before and already used my pip voucher, didn’t find him helpful at all. This was before they sold my mortgage.
Thanks.