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Response to what can i do.???

from Eleanor Scott (eleanor.scott@btinternet.com)
Have you talked this through with the lender? If so, what was the outcome? Perhaps you could give us the lender's name? (Some have better rescue schemes than others.)

I suppose I would say that it is important for you to try to retain some kind of control of the situation, even though it must seem as if it's all spiralling away from you sometimes. If the worst comes to worst and you have to sell, then - as you will see if you read the experiences of others on this site - it will be important that you try to get the best market value for the property. If you are repossessed or hand in the keys, you run the risk of a lender undervaluing and underselling the property, and going after you for any shortfall thus created. Is this what you are afraid of? Is there positive or negative equity in the property, I wonder? Or is it mainly an arrears-based worry? I'm not quite clear about this from your post.

If the worry is, what happens after repossession? then I would say, watch the lender every step of the way, and log any mistakes they make with regard to valuing, marketing and selling the property (and notifying you). And read this site from top to toe.

All best.

(posted 8483 days ago)

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