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T O P I C R E V I E W
Maz
Posted - 16 May 2009 : 09:41:45 Hi, Have been BR since Sept 08 and included potential shortfall of property on SOA. Would we be able to sell our property as we have some buyers lined up or do we need to let the house get repossessed. Should I ask the OR if he will let us sell it. It would save money as there would be no agents fees? Thanks
2 L A T E S T R E P L I E S (Newest First)
Reviva UK
Posted - 17 May 2009 : 09:31:15 I suspect that you will find the mortgage company unhelpful and probably they will assume that you are responsible for the shortfall whatever happens.
If you are leaving your house have you:-
1. continied to pay the mortgage 2. purchased any Beneficial Interest 3. got somewhere lese to go 4. got a deposit together for somewhere else
Posted - 17 May 2009 : 08:11:22 You should definitely mention it to the OR as you have not been discharged from your BR yet unless you have received your early discharge?
I don't know how it would work with the shortfall being written off in your BR. Would this mean that the amount that you sell the house for is yours or would that amount be counted like a windfall and need to go towards paying your creditors off?
Hopefully one of the experts will be able to help on this one.
