Help with negative equity?

Help with negative equity?

Help me get out of negative equity? 25k in negative equity I have managed to save 18k I need 7k.

Unfortunately, this project was not successful

Hi

I never done anything like this before this certainly is a case of desperate times call for desperate measures..

I purchased a property back in 2007 for 130k i was made redundant in 2012 and have taken a job in another part of the country where i am now settled.

I have been trying to sell this property since 2013 and the highest offer i have received was for 90k which i received yesterday.

Take away the estate agent and solicitor fees i am left with 88k and a mortgage balance of 113k - deficit of 25k!!

I have 18k in savings but require 7k in to complete the sale.

To make matters worse i am not allowed to sublet the property due to a covenent in the lease so the i cannot gain any income this way and the property has been empty for over 3 years.

Who dares wins

David