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Does anybody know if you are in bad debt can you sell your own house even although you have secured loans and? |
find a new mortgage with these companies that offer for bad credit don't think so, they'd just check your credit history and catch you out anyway. I know there are companies who buy your house if you are in threat of a reposession, but if you can make an agreement with your creditors its best to go down that road. Sorry I know you've probably heard that dozens of times.... lign="right" > Sign in to vote! Yes you can sell your home but the secured loans must be paid out of the proceeds prior to you receiving the remaining funds. Your credit must be repaired prior to obtaining funds should you be buying another home or at best you will be paying very high interest rates. Look at mortgages4bc.com and check out the credit score section to see how you can keep your score up. Good luck. lign="right" > Sign in to vote! You can certainly sell the house, the question is whether it is wise to do so. The mortgage on the house will have to be paid and the proceeds from the sale will likely go to that debt first. If there are remaining debts that are secured by the house, those will be paid next. Any other debts will come after that. If the amount of equity you have in the house is insufficient to cover the debts, then you'll be out of a house and still in debt. The first thing you need to do is change your spending habits. Having the same spending habits, even if you get out of debt through an equity loan, will just get you back and further in debt. First determine how much equity you have and how much debt you have to pay off. Make some tough choices and control your spending. lign="right" > Sign in to vote! yes you can when you sell you will have a solicitor that pays of your existing mortgage and also any secured loans. you can try for a remortgage the best one i know about is total mortgage solutions . www.totalmorgagesolutions,co.u... but if you are in a rut you can go to citizens advise they can help get reduced payments with whom you owe money to they will do all the phoning for you |
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