H
Helen19
Guest
I am currently having difficulty repaying my full mortgage which is huge. I bought in 2007. I have contacted the bank and they have agreed to reduce my repayments by 90 euro a month. Last year they reduced it by 130 euro. It is still over half my take home salary. I work in the public sector.
I have found the bank very difficult to deal with.
I have a family friend who will negotiate with the bank for me but he feels that I need to be in arrears for them to seriously negotiate with him. I spoke to another financial adviser and he also felt that I needed to be in arrears.
What I want to know is if I go into arrears and they agree a repayment with me/my friend, will the bank still repossess my home within the year? What is happening to people's homes who restructure like this?
Also is there any point in applying for an interest only mortgage when I am not in arrears?
I have found the bank very difficult to deal with.
I have a family friend who will negotiate with the bank for me but he feels that I need to be in arrears for them to seriously negotiate with him. I spoke to another financial adviser and he also felt that I needed to be in arrears.
What I want to know is if I go into arrears and they agree a repayment with me/my friend, will the bank still repossess my home within the year? What is happening to people's homes who restructure like this?
Also is there any point in applying for an interest only mortgage when I am not in arrears?