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T O P I C R E V I E W
got there
Posted - 12 September 2008 : 21:48:24 Can someone tell me what the difference is between surrendering the house back to the mortgage company and missing payments for 3 months and letting court proceedings commence? thanks in advance x
3 L A T E S T R E P L I E S (Newest First)
Reviva UK
Posted - 12 September 2008 : 22:13:59 Worth doing the maths to see what you can save
and then you will need to have the new home lined up.
Generally it takes a mortgage company 3 months before any action is taken other than letters then 2 - 3 months further before you would need to leave.
Paul Johns Assisted Bankruptcy Specialists Reviva UK www.revivauk.com
got there
Posted - 12 September 2008 : 22:04:00 Thanks Paul.
you dont get much in this life for free, so may as well stay put.
Reviva UK
Posted - 12 September 2008 : 21:59:11 It is all to do with timing.
The reason that many people remain in the family house and miss 3 - 5 payments is that they are effectively having fre accomodation while they save up for court fees and rental deposits.
If you have already moved and have the money for the court then there is no reason to hold on for this.
Paul Johns Assisted Bankruptcy Specialists Reviva UK www.revivauk.com
