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Mike62
Starting Member
United Kingdom
31 Posts |
 Posted - 23 August 2010 : 10:24:51
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Hi all,
We had our meeting with the O.R. three weeks ago, and he will be passing our case out to an insolvancy practioner. We spoke to the mortgage company today and after asking various questions, one thing has got us a little puzzled. They said because our mortgage is secured on the property that the O.R. can't sell it. They then went on to say that until they had reveiwed the paperwork from the O.R. they couldn't be 100% certain on that, why wouldn't they be certain?, surely it either is set ion stone or it isn't?.
Does anyone have a veiw on this?, we thought it was a forgone conclusion that we'd loose the house, equity is about 16K at the moment.
Thanks eveyone, Mike. |
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debtinfo
forum expert
2826 Posts |
Posted - 23 August 2010 : 17:41:18
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| I think it is just them not being to clever. The OR (or IP) can sell the property if there is equity, it my need them to go to court and be a bit of a hassle but they can sell it, If they do sell it and the mortgage is secured on the property then of course the mortgage will be paid first |
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Mortgage secured on the property...or not
