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Negative equity

  • 01-10-2014 09:39AM
    #1
    Adamtown
    Registered Users, Registered Users 2 Posts: 6 ✭


    I am 49. €530K mortgage on family home (valued about 550k) . Have another €430 K of investment property debt. Investment property is worth 240k and I am €25k behind on the mortage. Have €250K in pension. three children still in school. I am working – salary €68k, spouse stay at home mum. Have some credit card / credit union debt but that is being paid through MABS on a monthly nominal payment. Every euro not spent on household goes on servicing debt. We feel we cannot keep this up. Could I utilise the pension fund in some way ? Can I release any of my pension fund early?


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