I went bankrupt this week and am awaiting my OR interview, but am still really unsure about what will happen with the house. I'm not interested in keeping it, but am probably about a month away from moving into rented accomodation.
Will the OR demand that I move out straight away or is there a chance I could be given say, a month to secure alternative accomodation? Also, would I have to sent the keys to the OR, or back to the mortgage company?
I'm also concerned that as I have not moved into new accomodation, that I have had to put down an estimated figure for my future rent based on flats I have been looking at recently.
One of the experts will confirm this but I believe that the OR will inform the mortgage company and then you will be required to leave. I am not too sure of the length of time that it would take for the OR to inform the mortgage company but a month may be longer than you will have.
Whatever happens if the mortgage company send you a voluntary repossession letter do not sign it as this could leave you still liable to any shortfall.
The OR would not ask you to leave the house, it would be down to any possible repossession to sort it out. You would easily have a month and probably up to 2 or 3 to get things sorted.
Unsure about house following BR
Posted - 06 May 2009 : 23:41:57
