Should you try to keep your home?

• Sometimes it is not in your interest to keep your home
• It may be obvious whether you should try to keep your home, but it may not
• Get advice, even if you think it’s obvious that you can’t afford to keep your home
• Be realistic. Hanging on no matter what can make everything worse
• Even if you can’t afford to keep your home, you have options

Most of this handbook is about trying to keep your home. But sometimes it is just not in your interest to do that.

Maybe it’s obvious that you can’t afford to keep your home. Perhaps your financial circumstances have changed since you entered your mortgage so that, without a miracle, it will be now be impossible for you to pay it off whatever you do. Or perhaps you were never going to be able to pay it off from the start.

On the other hand, the situation may look worse than it is – you may be able to improve your position. There may be things you can do that you didn’t know about.

A number of options are set out under the heading If you decide to try to keep your home. Have a look through them before you decide whether to try to keep your home.

Related Topics

Get advice
Be realistic