I entered a trust deed 4 years ago in August . I made all of the 36 monthly payments . i then have to but out the equity on my property to finish the trust deed.
At the start in 2008 i was informed by my trustee that i could easily remortgage to raise the equity.However, due to the banking collapse this is not possible as no bank will allow a re- mortgage until you have been out the trust deed for one year .
Banks will not give me a loan either .
I continue to make monthly payments to reduce the equity but by nest august i will have only paid about 5000 of 22 000.
To be honest i have no idea what to do now , i could lose my home , but i have made all the payments , i was badly advised and am caught in catch 22.
Any advice would be appreciated