Its not tough at all for those in negative equity boomtobust, Business is Business, anything more than the current house value is better for the bank and for the taxpayer as well, and will save us a fortune on repossession costs.
If they don't accept your offer, than we will pay for the shortfall, your not to blame for that, they are, for not accepting a genuine realistic offer of more than the property market value, and for making you go for the nuclear option of going to the UK.
we are not in a position to mollycoddle a bank.
What mollycoddling is there?
You owe them money for your home, for an investment property and for an overdraft for unspecified purposes.
They have not changed the contract, I presume?
Your ability to repay has changed. You are asking to be mollycoddled, not them.
brendan
I have yet to come across anyone who has managed to get debt amount outstanding reduced and stay in the house.
i propose to pay you 200K in monthly installments for the next say 20 years, forget interest rates, €833 per month for 20 years.
.
Maybe it is happening but it's confidential.
How much do you want for the house? If it's worth say 150K, offer to pay say 200K for it.
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