Mortgage in arrears

[Hopefull19]

Hiya

We are in arrears of 3049 mortgage is 137000 have fully engaged with the ebs and was told that if we paid 6 full monthly payments the arrears would be capitalised. So sfs was sent in with all the documents required. Unfortunately 2 of us are unemployed and have 3 kids.
Got a letter stating it was unsubstainable and they are asking us to either sell up or mortgage to rent. I am strugglig on what to do.

 

[Brendan Burgess]

This is a bit old, but the principles are still correct

Key Post - What to do if you get a letter saying your mortgage is unsustainable

The first thing to do is to sit back and consider whether the mortgage is unsustainable or not. If your mortgage is unsustainable, maybe you are better off agreeing to a voluntary sale and trying to do a deal on the shortfall. If you really want to keep your home, you can appeal the decision...

www.askaboutmoney.com

You should provide all this information and you might get some more suggestions

Information required for mortgage arrears and negative equity questions