by regrets  28/05/2015  1427 Page Views
3 Comments  Self-managed super funds, superannuation, wealth management
Hi all,

Looking for some advice about my mortgage.

Around eighteen months ago, I lost my job and had to hand the house back to the bank as I was in a lot of arrears and they advised that it was in my best interests to do so instead of cashing out some super.

Recently the house has been sold but I got a letter stating that i owe the bank a lot of money, over fifty grand. This is nearly six times the amount i once owed before i gave them the house.

Now, there is no way i can pay that money back any time soon and i did not have lenders insurance at the time.

Is there anything i can do short of claiming bankruptcy or hope that they take fifty dollars a month as an acceptable payment plan?

Any tips or advice is greatly appreciated.

Thank you in advance