+ Reply to Thread
Results 11 to 14 of 14
14-05-2015 21:18 #11
14-05-2015 22:17 #12
14-05-2015 23:10 #13Senior Member
- Join Date
- Aug 2012
From what I can gather from your posts, what you're asking is 'is there any way to unload a house which you no longer want but can't sell or rent?', is this correct?
If living in the house, renting it or leaving it empty is not an option, and if significantly lowering the sale price to the point of selling at a loss still does not result in a sale then unfortunately there are very few options.
I've heard of a 'strategic default' which is basically choosing to default on a mortgage, although I'm not sure if that's an option in Australia. There's also filing for bankruptcy so that you are no longer liable for your debts although that is a big decision to make with far reaching consequences.
If she has absolutely no hope of selling it at the lowest possible price I'd suggest your friend talk to a financial advisor at her bank to see if there is anyway she can pause her mortgage repayments or somehow have the bank repossess the asset (house) so she is no longer losing money on it.
I hope it works out for your friend, sounds like an awful situation to be in.
The Following User Says Thank You to Mama Mirabelle For This Useful Post:
Star Light (15-05-2015)
15-05-2015 08:04 #14
The Following User Says Thank You to Star Light For This Useful Post:
Mama Mirabelle (15-05-2015)
By ThenThereWereThree in forum General Parenting Tips, Advice & ChatReplies: 34Last Post: 15-04-2015, 21:51
By moosey in forum General ChatReplies: 9Last Post: 18-11-2014, 07:14
By SpecialK in forum General ChatReplies: 13Last Post: 25-10-2014, 06:47
The Fix Program Sydney CBD and BroadwayPregnancy and women's health physio, pregnancy and new mum Pilates classes taught by our physios for you and bub. ...
LATESTWhy it is OK for your child to be differentWhat is a blessing way? How is it different to a baby shower?7 ways to break the ‘mumnotony’ at home
POPULARWhen can I start giving chores to my children?New baby nursery checklist – a guide to newborn essentialsWhat to pack for labour and hospital – a checklist
FORUMS - chatting now ...
What is your weekly budget?Family Finances
Using home equityFamily Finances
Did you drink any alcohol during pregnancy?Pregnancy Health Issues
Dr Antony Lighten - Appreciation threadpregnancy and babies through IVF
IVF babies due Sep/Oct/Nov 2017pregnancy and babies through IVF
Feeding a 9 month oldGeneral Parenting Tips, Advice & Chat
I has a funny funny #2Games & fun stuff