All Forums  archive  Forum Questions  I have an IVA but in serious risk of losing job

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Screensize: 640 x 480 800 x 600 1024 x 768 1280 x 1024 UserName: Password: Format Mode: Basic  Help  Prompt  Format: Font Andale Mono Arial Arial Black Book Antiqua Century Gothic Comic Sans MS Courier New Georgia Impact Lucida Console Script MT Bold Stencil Tahoma Times New Roman Trebuchet MS Verdana   Size 1 2 3 4 5 6   Color Black Red Yellow Pink Green Orange Purple Blue Beige Brown Teal Navy Maroon LimeGreen Message: * HTML is OFF * Forum Code is ON Smilies [quote][i]Originally posted by Andrew.32[/i] [br]Hi, I need some help. I am currently in an IVA with Grant Thornton but have my payments on hold because I am at serious risk of loosing my job. I have a residential mortgage on an open market home buy scheme which is currently tenanted. The mortgage is £519.41 a month which is interest only and I have to pay 1% more than the normal interest for agreed lettings. The rental income is £460 per month. I also have a buy to let which to be honest is a disaster as its a leasehold flat in negative equity by the tune of about 8k. With the leasehold fees of £854 a year ground rent of £125 a year letting agent fees and insurances its hardly worth keeping. But I cant sell it to raise any money to offer full and final settlement for IVA therefore I was thinking of moving back into my residential address as its worth £119k mortgage is approx 101k but 25% is owed to home buy scheme so in effect in negative equity. Oh I owe about 38k in non prioirty debts too any thoughts tactics or ideas as I am not sure what woudl happen to my Buy to Let? [/quote]   Check here to include your profile signature. Check here to subscribe to this topic.