House Repossesion

[wii_willy_winker]

Or should i say little flat repossesion

I am thinking about walking away from my flat, i wished i had never bought it now as from the start it was too small, its ok when i am there on my own but when i have my son over its too cramped and thers no room to swing a cat.

I could have sold it quite easily last year but as we all know the **** has fallen out of the housing market.

i was thinking about just giving the flat back but i dont know how to go about it.


Is there anybody on this forum who works in this industry and can help me out with the workings of what goes on?

Or anybody who has been through a repossesion? If there is and you dont want to talk about it publically then give me a PM.

Its only a thought but one i am seriously considering.

Thanks (wow something serious)

[Caesar]

I give you ten dolla!

[Dalesy]

$10??

I give you $10.17!

[Ed00wii]

What do you mean by 'repossesion' Willy?

Surely you can't just try (in vein?)selling it?

[wii_willy_winker]

Sorry USD are not worth anything nowadays so start the bidding again in pound sterling please

Ed - This is just a thought thats all, i have been trying to sell the flat for about a year now and the pounds keep dropping off. Its getting me down and i feel like i just want to walk away and hand the keys back. In 6 months i come off my fixed rate and god knows what the payments are gonna be like then.

Life sucks :(

[Ed00wii]

Hmm...Can't help you there.

Just ride it out for 5 years until the market (hopefully rises again) then sell at a profit at £10000000

[skyman747]

Originally Posted by wii_willy_winker

Sorry USD are not worth anything nowadays so start the bidding again in pound sterling please

Then again, the cost of living here is cheaper then over where you guys are, so who cares.

lol, Market is crap over there too? Over here it is so bad that my mom has one house empty because the tenants got kicked out (2 words, Con Artists), and we can't sell it because the market is so down in the craphole.

[Sharp Family]

Can't you rent it out? Or try selling it to a local housing association? I'm not sure if they do that now, but I watched Homes Under The Hammer when I was on sick and someone bought a flat, did it up and then sold it to the local housing association. Worth a try..? Surely getting repossessed would give you a black mark against your name and possibly hinder if you try to buy again.