and look where I am, up Shit Creek ...

Can't sustain mortgage anymore as Nic is off work with depression again, possibly never to return (here anyway) to work. House is on the market, end sale (if ever happens) won't cover mortgage, bank won't give personal loan to cover any shortfall from house sale without 'arrears' being paid. Arrears currently at $4,800, and no current way of paying that off.

Now to make it even better I am on a payment plan with the bank and pay $500PM. Normal payment would be $2,500 odd so the remainder gets slapped onto the total balance each month - $2,000PM

As hard as I look, I see no answer! ...

Can you cash in your Super - once there is a threat of seizure, this can be an option?

Wish I could help you Paul I really do, you have been through so much and don't deserve this.

It really is hard to think of what to say to be honest. Is Nics depression down to being somewhere she doesnt want to be ? Im trying to be tactful I was on medication for depression before we left, 1 strong tablet a day, now I am on 1 a week as you cant really go cold turkey.
Is it a definite that the house sale wont cover the oustanding mortgage ?
What does the bank expect you to do, pull money out of your butt ?

I looked into this before and basically no. Aint gettin any younger mate and need to putting in not taking out.

Deep breaths Paul, deep breaths!

Naaah she loves it here, but her field (Admin) is just too demanding. They want blood from you here so has been advised to step back in her field when better.

TBH she's suffered most of her life and the move here amongst other things was to 'try' and eleviate it, but alas!

I'm told the bank will tread very carefully as they won't want to be on 'a current affair' for throwing us out, and they've been good in all honesty, but just feel this is a lose lose situation.

Really sorry about that Paul. Can Nic maybe look at retraining for something she'll love? Maybe do a course at TAFE in something that interests her. It'll get her out of the house and maybe help her depression a bit.

Good luck with it all.

I don't know if this has already been suggested to you but have you thought about declaring yourself bankrupt?

http://www.abc.net.au/catapult/basics/s1555121.htm

For sure, she's been thinking a lot about it for a while and likes the idea of giving childcare a go. The TAFE does a Cert III and no induction till January, so that's the current plan. Just a day at the time between now and then really.

Last resort, but yeah have looked into it. Apart from being stuffed for finance for 7 years, anything you earn over $904pw goes to whoever you owe it to, can't do tax returns etc etc. As I say, last resort.

I think best plan is to just sell asap for whatever and try and get a personal loan in place to cover the shortfall from the sale, so it don't fall over on the day.

Just need to find that buyer ...

I have nothing useful to say (unfortunately), but didn't want to say nothing... very tough times for you guys - I truly hope something good is just around the corner for you.

Thanks, yeah me too!

We were in a similiar situation in Scotland about 13 years ago, it was the most stressful and horrible period of out lives (plus i had just had a baby). We hung in there eating beans and toast, lol, couldnt sell house as would've ended up in negative equity etc (plus no one wanted it), husband was unemployed. No matter what has happened since nothing has been that bad, you will get through it! We did! ended up we paid the arrears of the mortgage, we didnt particularly want to stay in the house, we were forced to but it ended up being a good thing. We lived in the house for another 7 years, husband got work, house price recovered and all was well again. I know how horrible it is, but you gotta stick together and get through it.
The day we sold the house i cried and cried, i ended up loving that wee house.

I know it's hard to see any positives now but there will be. We nearly lost our house some years ago when I couldn't get work. Got as far as court which made a suspended repossession order. I managed to get a bit of work to keep us afloat. It was a horrid time and at the time I couldn't see anything positive that could come out of it. But it did. I decided to keep busy by doing a college course and it was that that ended up me doing what I do now and being in Oz. So if we hadn't been in such a crap place we would probably still be in the UK doing jobs we hate.

Try to remember that you have each other and the rest is just "stuff".

I Went to a nurses conference reader and went to this 'inspirational speaker there', and i remember him saying 'out of recession comes opportunity', you have just proven his point

You should apply for Hardship through the bank - they will tell you it is short term for 3 months but it can be applied longer - this freezes interest etc on payments - ring and ask and ask for all present borrowings you have with them including credit cards.

I hear you!

Hear you too!

Have been with 'hardship' all year on an off but ta.

Currently got the 3 months to sort this mess out or ...