Hi,
I'll try keep this short. So have 2 houses. One rented out to new tenants recently and getting top rent at present. I got the mortgage in 2008 and have only paid 35 k of it in 9 yrs. My balance is €197.000. Had it valued by auctioneer and if I sold it is still be in negative equity of 50k. We fell into arrears with it and have a personal loan of 12k too. I'm afraid I'll be stuck it with it if the property bubble bursts again. So how should I go about selling it faster? Should I pay extra of my capital monthly?
I'll try keep this short. So have 2 houses. One rented out to new tenants recently and getting top rent at present. I got the mortgage in 2008 and have only paid 35 k of it in 9 yrs. My balance is €197.000. Had it valued by auctioneer and if I sold it is still be in negative equity of 50k. We fell into arrears with it and have a personal loan of 12k too. I'm afraid I'll be stuck it with it if the property bubble bursts again. So how should I go about selling it faster? Should I pay extra of my capital monthly?
