Hi, Thanks for the details, it is appreciated. I have spent many hours reading these posts and the site and understand things a lot more.(posted 8318 days ago)The problem is that my property has negative equity of more than 10k below the mortgage value. I cannot sell and cannot afford to make the payments. I wrote a letter to Abbey about the situation and asked what they could do to assist, but I received a very formal letter stating there was nothing they could or would do.
I do not want to hand the keys in, but I am unable to honour my mortgage payments, what is the best course of action for me to take?
Should I try explaining again to Abbey or will I receive the same answers? If so, what happens when my mortgage payments are note made due to insufficient funds?
I Appreciate there are many questions, but I really want to do the best thing in this currently unavoidable situation, but I do not know what the best thing is.
Thanks again, Steve