All Forums  archive  bankruptcy postbag for july  repossession - duty bound to achieve sale..??

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Screensize: 640 x 480 800 x 600 1024 x 768 1280 x 1024 UserName: Password: Format Mode: Basic  Help  Prompt  Format: Font Andale Mono Arial Arial Black Book Antiqua Century Gothic Comic Sans MS Courier New Georgia Impact Lucida Console Script MT Bold Stencil Tahoma Times New Roman Trebuchet MS Verdana   Size 1 2 3 4 5 6   Color Black Red Yellow Pink Green Orange Purple Blue Beige Brown Teal Navy Maroon LimeGreen Message: * HTML is OFF * Forum Code is ON Smilies [quote][i]Originally posted by dave.p[/i] [br]I would be grateful for some advice. My house was repossessed on the 17th April despite my attempt to ward this off. The driving force was Blemain Finance a company I had my secured loan with. The loan was originally £62,000 yet nine months later and grossly exesive charges this was upto £79,000 off which only £3,000 was arrears. The property I was in had been up for sale for over a year, £220,000 being the last figure on it. It was in pristine condition interior and exterior. The mortgage I had was with Birmingham and midshires (£110,000) approx and to be fair they had been fairly good, as I had tried to keep up payments and extra. After the repossession, approx 4 weeks later I had a call from B and M who were alarmed that the property had been repossessed by Blemain, since that call nearly 3 months I have not had any form of communication from either party,,?? I have drove past the house many times, and it is heartbreaking to see the once immaculate gardens become over grown and untidy. I notice that curtains have been removed from the property, and can only assume this happened after the repossession..but by who remains a mystery as the house is secure.? My understanding was that the house would remain with the current estate agents for approx 30 days to be sold on the open market, failing this it would go to auction and achieve the best price on the day..?? Is this correct..?? This hasn't happened and my worry is that the house is becoming even more difficult to sell due to it being empty and unkept. This will no doubt effect the selling price if it does eventually sell, and therefore effect the funds available to pay the secured debts on it. The failure on behalf of Blemain Finance to sell the property expedietly even in this current market would be a contributing factor in the funds available to pay the debt and surely some blame must lie with them..?? What is the position on this...have I got a case to argue about the delay in the sale, the demise in the empty property and can or should I be contacting them to highlight this as well as asking for interests to be frozen during this period...Please advise... Regards Dave [/quote]   Check here to include your profile signature.