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Negative equity help please!


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Hi

 

Hope someone out there can help me. My home is about £20,000 in negative equity. I have the dreaded together mortgage with northern rock and have a 22000 loan attached. So if I were to sell I would owe about 44000 to NR. My home is now rented out as I had to move as recently my mum took ill and I wanted to be there for her. I am now renting a 4 bedroom house for me and my kids which is costing me £895 pcm. I am receiving £700 p c m for my home but the mortgage is £1078 pcm. So I am £378 out of pocket every month to keep the mortgage going and it's interest only. I have a good credit rating although I have about £10,000 on credit cards which I am trying to pay off. The problem is this extra spend is killing me, I feel like I'm throwing away money. Does anyone have any solutions out there? Any ideas or advice is appreciated. :evil: Is there any help for people with neg equity or any ideas on how to solve this so that I can still get a mortgage again in the future

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