The great Australian dream involves houses. Lots and lots of houses. You probably know people who have an investment property or maybe you have one (or many) yourself. At some stage that was probably exciting and you thought you were securing your future. But what if something has changed? I know, and it has happened to me too, that property doesn’t always go up in value. Sometimes it goes down and it can lose a huge amount of worth in a very quick time. You might end up stuck with a mortgage you cannot afford and a property you are scared to sell. This is the mortgage prison. Let me share my story and maybe you can learn something useful from what I found out the hard way. A whole bunch of questions came up and I didn’t know where to find the answers. Questions like: • Can you sell the investment property? • What happens to the debt not covered by the sale price? • Will the bank come after you? • Will the bank take your home? • Will you have to become bankrupt? • Can anyone help me with this situation? #underwater #upsidedown #mortgageprison #negative equity #debt agreement # unaffordable #interestfree # debtfree