We want to sell our house

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caroline
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by caroline » Mon Mar 13, 2017 7:03 pm
We want to sell our house,can we if it also pays the IVA?
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Foggy
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by Foggy » Mon Mar 13, 2017 7:14 pm
You can, but the IVA will take enough of the equity to settle the full original debt, plus fees and statutory interest.

Alternatively, you could approach your IP with the OFFER to sell the house, for the purposes of making a full and final offer --- on the understaning that if the offer is rejected then the house will not be sold and the IVA will continue "as is". The amount for a F&F will be based on the number of remaining payments (plus 12 in lieu of equity) multiplied by your current monthly payment ( which should be a lot less than a full settlement ).
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