03 Jul 2012 12:47 PM:

 Hi Growler,

We bought the house for 272K and paid about 20% deposit. We paid the mortgage for a few years and paid off another lump sum to bring the mortgage to just over 200K. (70K down although admittedly we had rented it for some of this time so recieved an income of sorts)

In their recent evaluation the bank valued the house at 140K. There is a shortfall of 60K. The bank have agreed to accept half of this and the keys to the house. The other 4K comes in tax, owed community fees, lawyers etc.

Similar houses on the site (The bank now owns 29 houses) are being sold for 140K.

If someone moved in and took over the payments it would take them nearly 2 and a half years or so to pay off the money. In 3 years time we cannot honestly see that there will be a rise in the value of the house BUT there are also lots of current building issues with the site and that is why we are looking to get rid. 

Thread: Any recent news...

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02 Jul 2012 2:28 PM:

Hi Growler,

We bought the house for 272K and paid about 20% deposit. We paid the mortgage for a few years and paid off another lump sum to bring the mortgage to just over 200K. (70K down although admittedly we had rented it for some of this time so recieved an income of sorts)

In their recent evaluation the bank valued the house at 140K. There is a shortfall of 60K. The bank have agreed to accept half of this and the keys to the house. The other 4K comes in tax, owed community fees, lawyers etc.

Similar houses on the site (The bank now owns 29 houses) are being sold for 140K.

If someone moved in and took over the payments it would take them nearly 2 and a half years or so to pay off the money. In 3 years time we cannot honestly see that there will be a rise in the value of the house BUT there are also lots of current building issues with the site and that is why we are looking to get rid. 

Thread: Any recent news...

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28 Jun 2012 3:24 PM:

 Thanks for your advice. I have read the forums on belegal and to be honest it has convinced me to pay up and be clear of the house once and for all. We made a bit of money on our UK house and so this softens the blow a little although not much. I hate thinking about how much we will have lost but just want to put it behind us and start to sleep better at night again.

By the way many of the initial problems we had were because of low life (unfortunately a family from the UK) living in the house for months without paying rent, electicity, water etc and then running away without paying us what they owed and leaving the house in a state. Unfortunately we listened to their lies when they told us they were a bit strapped for cash this month (He works at Club La Costa) and would pay with interest the following month. They are nothing but thieves. Don't let this happen to you. I can give you their names if you like.

 

Thread: Any recent news...

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28 Jun 2012 3:24 PM:

 Thanks for your advice. I have read the forums on belegal and to be honest it has convinced me to pay up and be clear of the house once and for all. We made a bit of money on our UK house and so this softens the blow a little although not much. I hate thinking about how much we will have lost but just want to put it behind us and start to sleep better at night again.

By the way many of the initial problems we had were because of low life (unfortunately a family from the UK) living in the house for months without paying rent, electicity, water etc and then running away without paying us what they owed and leaving the house in a state. Unfortunately we listened to their lies when they told us they were a bit strapped for cash this month (He works at Club La Costa) and would pay with interest the following month. They are nothing but thieves. Don't let this happen to you. I can give you their names if you like.

Thread: Any recent news...

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28 Jun 2012 3:24 PM:

 Thanks for your advice. I have read the forums on belegal and to be honest it has convinced me to pay up and be clear of the house once and for all. We made a bit of money on our UK house and so this softens the blow a little although not much. I hate thinking about how much we will have lost but just want to put it behind us and start to sleep better at night again.

By the way many of the initial problems we had were because of low life (unfortunately a family from the UK) living in the house for months without paying rent, electicity, water etc and then running away without paying us what they owed and leaving the house in a state. Unfortunately we listened to their lies when they told us they were a bit strapped for cash this month (He works at Club La Costa) and would pay with interest the following month. They are nothing but thieves. Don't let this happen to you. I can give you their names if you like.

Thread: Any recent news...

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