- Sun Aug 05, 2012 11:46 am
For a number of years we struggled with our mortgage payments (mortgage with GE Money), anyway eventually after months of them not offering any solutions (I was out of work for several months so our income had reduced), we got our arrears capped. However, the mortgage was still too high for us to pay and live as well, so I got offered work away from home, and the best solution was to rent out the house.
We have been renting out for a year and were advised not to inform GE as under the terms of our mortgage they do not allow rental. However, they have found out and not sure what is going to happen. The house is in negative equity if we sell, so its a catch 22 as it is for others I am sure.
Can anyone offer any advice?