J
Josephi
Guest
Hi i am new to this forum
i am 48 years of age, married and am going through a very tough time financially. i lost my business and had to remortgage in order to clear some heavy bills etc. things were so bad that i had to use a high interest rate mortgage company, the type that will give you a mortgage even if you have a bad credit rating. the repayments on this mortgage are enormous. my house is worth at the moment around €1 Million and the mortgage is only for €265,000.
so my question is, in order to get back on track should i sell my house, pay off the crippling mortgage, rent a house locally for the next 3/4 years, invest the remainder of my equity from the sale of the house in property abroad that can be rented & or other investments and produce some return on my money.
Sorry Josephi - we do not allow speculation about the future direction of property prices in Ireland, so I have deleted your comments on this
i am 48 years of age, married and am going through a very tough time financially. i lost my business and had to remortgage in order to clear some heavy bills etc. things were so bad that i had to use a high interest rate mortgage company, the type that will give you a mortgage even if you have a bad credit rating. the repayments on this mortgage are enormous. my house is worth at the moment around €1 Million and the mortgage is only for €265,000.
so my question is, in order to get back on track should i sell my house, pay off the crippling mortgage, rent a house locally for the next 3/4 years, invest the remainder of my equity from the sale of the house in property abroad that can be rented & or other investments and produce some return on my money.
Sorry Josephi - we do not allow speculation about the future direction of property prices in Ireland, so I have deleted your comments on this