Hello Sue,

Your plan looks perfect if you finally find a buyer for your property. The selling price should then be equal or higher than the amount you owe the bank and then the problem would be solved. If the bank does not take any action nor confirm they agree with the interest only payment there are not many options for you but to do what you suggest, try to sell as soon as possible and if sold at a higher amount than the debt, get some cash so you can have as you say a " new start ".

Our firm can assist in the process, either putting some pressure on them to take a decision about the interest only payment that you requested or negotiating other possible solutions.

Please feel free to contact me on Patricia at Lawbird.com if you wish to discuss your case further.

Regards,