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is repossession the only way out?

from gavinrawlings (gavinrawlings@hotmail.com)
After a messy divorce, I was left with a £72k mortgage in my name. The property in question has been unoccupied now for 16 months - and has been on the market all that time. There has been no interest in the property, which is priced at £60k (but has been open to offers). I cannot afford to pay the mortgageon the property, nor is it in a state to rent. The C&G valued the property at £90k three years ago, however, when trying to remortgage it to cut down my monthly repayments, it was valued at only £56k - an interseting shortfall. I feel that I am in a state of limbo and that repossession is the only way out? Any comments?
(posted 8487 days ago)

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