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About topolov

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  1. Hi my wife and I are moving abroad in around 6 months. We have been trying to sell the house for the last 18 months to no avail. We have had the house since 2007 and have come to the end of the fixed rate period. We have a NRAM together mortgage total £127k (£112k secured £14k unsecured) the house is on the market for £114950 we have had viewing but no offers. We cant rent the house out as the rent would not cover the mortgage payment. Our credit history is already shot to bits from when my wife was redundant. We are sending money out to the "new" country to set up life out there however we are running out of time to sell the house over here. Once we move we will not be moving back here (other than the odd holiday to see family) We have contacted NRAM regarding voluntary repossession. they say no matter what we are still liable for any short fall - which there will be, and we will have to sign paperwork to say we agree to this. We may not be able to afford repayments to NRAM as well as the mortgage in the new country, however we don't want to go Bankrupt as we will have to declare assets in the new country and therefore put our future life at risk. Please could we get some advice as to what to do? should we give the house back to NRAM sign the forms and negotiate an affordable repayment, or do we just post the keys back on the way to the airport with no forwarding address?
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