Negative Equity Options & Write-off Mortgage Debt
Struggling Financially; difficulty making mortgage payments, in arrears, would like to sell property but can’t due to lack of equity
Money worries play a major role in many peoples lives and having the stress and concerns of debt hanging over you is never a nice thing.
And the facts show that many people in Northern Ireland are in arrears on their mortgages and finding it hard to keep on making these repayments.
In fact in 2012 1100 enforced repossessions took place in Northern Ireland (Figures provided by the Enforcement Judgements Office (EJO), and this year the figure could be higher so you are not alone.
And having these problems can effect your health, your work and your relationships with those who are closet to you.
And new findings from MoneySupermarket.com paint say that almost a third of the population in the UK claimed their finances are their biggest daily stress.(May 2013)
The good news is there is a way of getting out of this never ending circle of money worries.
Because if you are missing payments on your mortgage and starting to feel pressure from your lender we can help. First of all even if your property is in negative equity we can still come up with a solution to your problem.
Our advisers are professional, experienced and have the knowledge and the expertise to point you in the right direction.
So if you are struggling financially; having difficulty making mortgage repayments,or even in arrears on your mortgage we can help you sell your property even if it is in negative equity.
And your first meeting with our fully regulated staff is free so why not contact us?
The situation you find yourself is not be as bad as you think and there is a way for you to get back on a level financial playing field.
So take some of the stress out of your life and contact us.
How is home equity calculated?
Home equity is calculated by subtracting the amount you still owe on your mortgage from the current market value of your home.
Can you have negative equity?
Yes. With standard loans, your home equity will increase over time. With negative-amortizing loans — a loan with monthly payments less than the interest rates — your equity decreases over time as your owed balance increases.