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Posted: Tue May 13, 2008 4:40 pm
by gemma.r
what happens if i have a mortgage and do an iva?will i loose my house even though i can afford my mortgage
Posted: Tue May 13, 2008 4:47 pm
by Viki.W
Hey gemma, welcome to the forum. An expert will be along shortly to advise you. Viki X
Posted: Tue May 13, 2008 4:53 pm
by Julie
Hi Gemma,
If you can keep up your mortgage payments and your IVA, your house is safe. An expert will give you a more detailed response I'm sure. x
Posted: Tue May 13, 2008 4:56 pm
by gemma.r
just worried looking at getting an iva but scared!
Posted: Tue May 13, 2008 4:59 pm
by Viki.W
It is scary gemma but you really are in the best place for advice. It would help if you could post some more info. How much equity is in your house and how much do you owe, who do you owe etc. As much info will help the experts help you. viki X
Posted: Tue May 13, 2008 5:00 pm
by Viki.W
Oh and also, how much disposable income you have each month to offer. Viki X
Posted: Tue May 13, 2008 5:11 pm
by facingittogether
hi gemma and welcome
like vicki says dont be scared you have come to a great place for help and support as has already been said if you could post a few more details i am sure an expert will be along to advise you!
barb x
Posted: Tue May 13, 2008 7:45 pm
by Soulgrowth
Hi Gemma
The great thing about an IVA is that it will help you to KEEP your home.
It would be helpful if you could list your creditors and how much you owe each one here. That would give the experts more information to work on and also help you to get your head straight.
You are amongst friends here ... so keep in touch with the Forum and don't be scared [:)]
Debbie
Posted: Tue May 13, 2008 10:24 pm
by MelanieGiles
Gemma
You will certaintly be allowed to keep your house in an IVA, but creditors will expect you to have it revalued during the final year with a view to raising equity to pay to creditors - based on lending of 85% loan to value.