Sorry in advance if I'm repeating a similar thread.
Ok so we have come to the conclusion that we can no longer go on with our mortgage due to job losses etc: ill outline our situation below:
Mortgage remainder: 220k
Arrears: 7k
On a restructure for nearly 3 years
Husband works 16 hours per week
I cannot work as I'd be only paying a child minder.
3 children.
We currently live in the back of beyond in a ghost estate which there are already about 6-7 houses for sale for 70k-100k & no sign of selling.
We want to move back to Dublin were we are originally from so I can look for work & have someone to Ming the children for free & I can start contributing to our debt again.
We have a meeting with PTSB on Friday & I've been trying to get as much info as possible from MABS & Citizensinformation & now you guys as we don't want to go in blind or be bullied.
So we were originally thinking of asking them can we sell the house ourselves & come to an agreement on the shortfall & get a letter off them to say the mortgage is unsustainable so we can go on the housing list in Dublin but after a lot of research the house is unlikely to sell within the next 2 years & I'm not willing to wait that long to move as my health is suffering as a result of the stress. So we are now thinking of going in & voluntarily surrendering the house to them but honor our debt once they have sold the house??
Can anyone give me any advice on the above in relation to voluntary surrender & looking for housing from the council/ rent allowance once this has been done?
*please note we 100% plan to honor our debt in the future & take full responsibility for the loan.
Ok so we have come to the conclusion that we can no longer go on with our mortgage due to job losses etc: ill outline our situation below:
Mortgage remainder: 220k
Arrears: 7k
On a restructure for nearly 3 years
Husband works 16 hours per week
I cannot work as I'd be only paying a child minder.
3 children.
We currently live in the back of beyond in a ghost estate which there are already about 6-7 houses for sale for 70k-100k & no sign of selling.
We want to move back to Dublin were we are originally from so I can look for work & have someone to Ming the children for free & I can start contributing to our debt again.
We have a meeting with PTSB on Friday & I've been trying to get as much info as possible from MABS & Citizensinformation & now you guys as we don't want to go in blind or be bullied.
So we were originally thinking of asking them can we sell the house ourselves & come to an agreement on the shortfall & get a letter off them to say the mortgage is unsustainable so we can go on the housing list in Dublin but after a lot of research the house is unlikely to sell within the next 2 years & I'm not willing to wait that long to move as my health is suffering as a result of the stress. So we are now thinking of going in & voluntarily surrendering the house to them but honor our debt once they have sold the house??
Can anyone give me any advice on the above in relation to voluntary surrender & looking for housing from the council/ rent allowance once this has been done?
*please note we 100% plan to honor our debt in the future & take full responsibility for the loan.