is repossession the only way out?greenspun.com : LUSENET : Repossession : One Thread
After a messy divorce, I was left with a £72k mortgage in my name. The property in question has been unoccupied now for 16 months - and has been on the market all that time. There has been no interest in the property, which is priced at £60k (but has been open to offers). I cannot afford to pay the mortgageon the property, nor is it in a state to rent. The C&G valued the property at £90k three years ago, however, when trying to remortgage it to cut down my monthly repayments, it was valued at only £56k - an interseting shortfall. I feel that I am in a state of limbo and that repossession is the only way out? Any comments?
-- gavinrawlings (firstname.lastname@example.org), January 01, 2001
Have I got this right? C&G valued this property at 90k in 1997, but at 56k this year?
Where is it - Hebron??
Have you got the valuation documents?
-- Eleanor Scott (email@example.com), January 06, 2001.
If you post your earlier message to me here, I will be able to offer an opinion, if you like.
-- Eleanor Scott (firstname.lastname@example.org), January 11, 2001.