Due to suffering from depression, me and my husband ran up major debts of £30k+ 4-5 years ago. We have made a huge effort to get everything under control and have cleared all our personal debts apart from £5k (plus a £120k mortgage). We still have a bad credit rating and we remortgaged almost 4 years ago with a sub-prime lender. Due to increasing interest rates, we are now paying 9% APR with a mortgage payment of £935 per month on a £120k interest only mortgage. Although we both work full-time, we have 3 children and are finding it increasingly difficult to keep up the repayments. There is currently a redemption penalty of £7k which reduces to £1200 in July 07. Should we remortgage now and pay the £7k or wait till July but struggle till then to make the repayments? I am worried we will go crazy locked into these repayments and be off work with stress before then and be unable to make the mortgage payments and risk losing our house? Please help...!
2007-02-05 23:12:50 · 8 answers · asked by Karen J 1 in Business & Finance ➔ Credit
There you go : http://simple-credit-cards-and-loans.com
2007-02-06 08:04:09 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Bad credit is one of the worst problems to have... however there exists a solution.
I will hereby talk from my personal experience.
I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :
http://umgarticles.atspace.com/debt-consolidation.htm
if it helps kindly remember me in your voting!.. cheers!
2007-02-06 23:27:33 · answer #2 · answered by gabriel jones 4 · 0⤊ 0⤋
I've come accross this website and they helped me. They are loan experts and mortgage specialists. The ydeal a lot with bad credit cases. Not only they provide valuable advice, but they also shop around on your behalf and come up with 10 offers to chose from in your area. Go to http://mortgage.yeyeyup.com/form.html
2007-02-06 09:04:29 · answer #3 · answered by Anonymous · 0⤊ 0⤋
if you have a job then you should be able to refinance your mortgage, every person has had things that reflect your credit report, sometimes it is better if just one of you use your credit due to medical bills our credit had a few blemishes and we found that our credit together was lower then my husbands alone. don't worry you will still have your name on the mortgage and the house.
2007-02-05 23:19:05 · answer #4 · answered by kissybertha 6 · 0⤊ 0⤋
some renters are terrible people. A $3500+ after-tax income is extra suitable than sufficient for a $1200 homestead till the renter is in basic terms an absolute jerkwad. come alongside with your references, credit comments, etc. evaluate getting a roommate.
2016-10-01 12:24:51 · answer #5 · answered by clarice 4 · 0⤊ 0⤋
Send me an e-mail hilton.ms2000@talk21.com with your contact details I run a financial services business, and I can pass you to a local independant mortgage broker who should be able to help you.
2007-02-05 23:23:26 · answer #6 · answered by wing 1 · 0⤊ 0⤋
check with big house morgage in knoxville tennessee on chapman highway. Reputable and nice.
Helped me buy a house
2007-02-06 03:35:33 · answer #7 · answered by tennessee 7 · 0⤊ 0⤋
Try www.surefirefinance.co.uk they may be able to help.
2007-02-06 03:29:37 · answer #8 · answered by Anonymous · 0⤊ 0⤋