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heywoodshane
- Posts: 21
- Joined: Tue Sep 13, 2011 3:26 pm
- Location: United Kingdom
Here goes,paid IVA for 18 months 400pm.On completing 60 months we have to then remortgage and pay a lump sum of 14,405 this will take our overall payments to 38,405.If I was to put my house up for sale now and it sold could I pay off the IVA plus final fee off 14,405, would this be accepted?The overall sum of my IVA equates to 67,300.As there would be equity left for the sale of the property would this also be required to go to the IVA if at all it can happen?
Just thought that it may then be difficult to get a mortgage due to credit checks?
Last edited by
heywoodshane on Sun Feb 19, 2012 4:58 pm, edited 1 time in total.
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ginger3232
- Posts: 2610
- Joined: Tue Jan 11, 2011 4:06 pm
- Location: United Kingdom
welcome to the forum - you do need to check with your own IP and proposals for clarification - it will be practically impossible to remortgage - so if there is any equity, usually in leu of this, a further 12 months IVA payments are required (while this is a big pain - it will be cheaper than remortgaging - even if you could)
Last edited by
ginger3232 on Sun Feb 19, 2012 5:26 pm, edited 1 time in total.
