Am rapidly running out of options with an unsustainable mortgage. Am working with the IMHO and voluntary sale or surrender with a possible write off of remaining debt is being suggested as the only realistic option left.
AVA2016 this site provides advice and at times that can appear unsympathetic. However the advice given to you is realistic and sympathy will not effect the ultimate outcome. The responses above are realistic and reflect the facts as you have presented them. Your mortgage is unsustainable and the only option any "friend" will have to purchase your property is on the open market (this may well be a realistic option). As the bank will be writing off a considerable element of the debt in this scenario they will need to get a realistic market value for the property.Yes it a desperate situation at 64 years of age and it is a lot of money as I have only been paying interest only.
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