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T O P I C R E V I E W
Mark.rv
Posted - 04 February 2012 : 08:30:08 Hello, I've read your section about Bankruptcy and property owned. My house is in a lot of negative equity so I understand the receiver wont be interested in this. However, once they have taken possession of this, what happens with my current mortgage? Does that still remain in my name and I continue to pay it as normal? Also, say for example I get my sister to by the deeds back for the £1 fee. Does she need to get a mortgage on the property or again, does the mortgage stay in my name and I pay it as normal? Thanks for your help with this.
2 L A T E S T R E P L I E S (Newest First)
Mark.rv
Posted - 06 February 2012 : 13:05:13 Thanks very much for your response Jan! Very helpful indeed. :)
Niobe
Posted - 04 February 2012 : 09:04:00 Hi and welcome
You will continue to pay the mortgage as normal and it remains in your name.
Don't think you can buy back the BI now for £1.
The receiver will keep an interest in the house for 2 years and 3 months and will then look at it again.
Follow through Make your dreams come true Don't give up the fight You will be alright 'Cause there's no one like you in the universe
