Can the long arm of the banks find me in 20 years time to repay and will my credit rating be in ruins wherever I go? This is so depressing and I have spoken to the bank and yet all they say they can do is interest-only. The interest only payments are still pretty high and dont make much of a difference. I have asked for a mortgage holiday and extended period for the load but they say no even though I have no job or income.
Ive not suggested repossession to them yet This can only work if I can carry on trickling along for a few years until the property is worth something again.
I'm sure they are already thinking of repossessing. Only problem is that if you live in the apartment they are forced to go the Marp route, presumably you can waive your right to this, as there is no benefit to it other than living rent free for a couple of years. You are on the dole, living with friends and think you should just trickle along until property rises. You are not thinking straight. This situation will only get worse and the stress is not worth it. You've no spouse, no kids and now is the time to sort this once and for all by getting rid of the property.
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