Comments on: fixed rate UK mortgage ending! struggling single parent with poor credit history? http://www.theukmortgageshop.com/uk-mortgage/fixed-rate-uk-mortgage-ending-struggling-single-parent-with-poor-credit-history Learning the Facts about UK Mortgages Mon, 06 Feb 2012 08:37:55 -0600 http://wordpress.org/?v=2.8.6 hourly 1 By: Reena http://www.theukmortgageshop.com/uk-mortgage/fixed-rate-uk-mortgage-ending-struggling-single-parent-with-poor-credit-history/comment-page-1#comment-1621 Reena Mon, 26 Jul 2010 02:55:59 +0000 http://www.theukmortgageshop.com/uk-mortgage/fixed-rate-uk-mortgage-ending-struggling-single-parent-with-poor-credit-history#comment-1621 Sell the house.... the intent of a adjustable rate mortgage was for you to refinance the house long before the "adjustment" date rolled around or sell it with a profit and pay off the loan within the teaser rate period of time. Of course... reality came in between you and Utopia and now you are stuck with a house you can't afford. that is what it is.... a house you can't afford now and never could afford. You paid rent to a mortgage company and will have to move to a place you can afford. If your ARM is about to adjust and your mortgage payment is going to be twice as much as before than you bought something so out of your league that the whole deal should be considered criminal and the mortgage lender should be thrown in jail.... Most likely they are long gone.... and you are stuck with the bitter end result. You need to brace yourself and get on with life.... Find a rental, move your stuff into it and turn in the keys to the house to your mortgage lender. Face it... you can't afford this place and no, you can't refinance something that is so upside down in value nor can you afford the real mortgage payment no matter how many years they tugg onto the length of the mortgage. A real mortgage payment is paying back principal and interest... you only ever paid a part of the interest and now the principal and interest is due for repayment and you never could afford this and never will.<br><b>References : </b><br> Sell the house…. the intent of a adjustable rate mortgage was for you to refinance the house long before the "adjustment" date rolled around or sell it with a profit and pay off the loan within the teaser rate period of time.

Of course… reality came in between you and Utopia and now you are stuck with a house you can’t afford. that is what it is…. a house you can’t afford now and never could afford. You paid rent to a mortgage company and will have to move to a place you can afford.
If your ARM is about to adjust and your mortgage payment is going to be twice as much as before than you bought something so out of your league that the whole deal should be considered criminal and the mortgage lender should be thrown in jail…. Most likely they are long gone…. and you are stuck with the bitter end result.

You need to brace yourself and get on with life…. Find a rental, move your stuff into it and turn in the keys to the house to your mortgage lender. Face it… you can’t afford this place and no, you can’t refinance something that is so upside down in value nor can you afford the real mortgage payment no matter how many years they tugg onto the length of the mortgage. A real mortgage payment is paying back principal and interest… you only ever paid a part of the interest and now the principal and interest is due for repayment and you never could afford this and never will.
References :

]]> By: Big Tom http://www.theukmortgageshop.com/uk-mortgage/fixed-rate-uk-mortgage-ending-struggling-single-parent-with-poor-credit-history/comment-page-1#comment-1620 Big Tom Mon, 26 Jul 2010 02:19:59 +0000 http://www.theukmortgageshop.com/uk-mortgage/fixed-rate-uk-mortgage-ending-struggling-single-parent-with-poor-credit-history#comment-1620 If you can sell the house and move to a place you can afford. Otherwise lose the house that you can't afford anyway and be happy because you don't have to worry about it anymore.<br><b>References : </b><br> If you can sell the house and move to a place you can afford. Otherwise lose the house that you can’t afford anyway and be happy because you don’t have to worry about it anymore.
References :

]]>