C
cute-dub
Guest
Hi, this is my first post although I have spent the last few months following threads in this forum.
Our situation is dire. We are both on illness benefit and 8 full months in arrears. Our mortgage is almost €2,300 a month and totally unsustainable. When we bought for €200,000 in 2008 we could afford our repayments.
When my husband was made redundant this put extreme pressure on both of us but particularly me as the sole earner. Then I got ill, requiring surgery and although I have recovered I now have further health concerns. We have no child dependents.
I am in my mid 40s and my husband will be 50 in December.
Tomorrow I am going to ring the bank and tell them we quite simply can not pay.
I am wondering if any one can tell me what is the likely outcome?
Should I voluntarily surrender? If not, then the bank will seek to repossess.
Can anyone fill me in on what the timeframe might be? Is it only a matter of a few months? Is it likely the judge will give a few weeks to find a new home and
move etc etc?
I have read through most of the posts and can't actually find the answers to these questions.
At this point I just want it all behind us so we can try and move forward. I am of course all too aware we will still owe the bank a lot of money, almost the full amount plus costs.
Lastly, I was informed over the week end by some one who works in my bank that the bank can just come out and change the locks? Surely this is not the case? Thanks.
Our situation is dire. We are both on illness benefit and 8 full months in arrears. Our mortgage is almost €2,300 a month and totally unsustainable. When we bought for €200,000 in 2008 we could afford our repayments.
When my husband was made redundant this put extreme pressure on both of us but particularly me as the sole earner. Then I got ill, requiring surgery and although I have recovered I now have further health concerns. We have no child dependents.
I am in my mid 40s and my husband will be 50 in December.
Tomorrow I am going to ring the bank and tell them we quite simply can not pay.
I am wondering if any one can tell me what is the likely outcome?
Should I voluntarily surrender? If not, then the bank will seek to repossess.
Can anyone fill me in on what the timeframe might be? Is it only a matter of a few months? Is it likely the judge will give a few weeks to find a new home and
move etc etc?
I have read through most of the posts and can't actually find the answers to these questions.
At this point I just want it all behind us so we can try and move forward. I am of course all too aware we will still owe the bank a lot of money, almost the full amount plus costs.
Lastly, I was informed over the week end by some one who works in my bank that the bank can just come out and change the locks? Surely this is not the case? Thanks.