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Just curious

I probably shouldn't be fretting about this, but it seems that our old house has just been sold after the price was dropped £20k in one week. (Was initially advertised at the higher figure, though even this was £20k down from the valuation we had in Feburary, so £40k down in total.) I can understand that the mortgage lenders would want a quick sale in the event of repossession, and the most recent advertised price still wipes the original mortgage, but it leaves a stonking shortfall in the case of the secured loan. (Now un-secured.) We've also just had a letter claiming arrears of £Xk on the mortgage following the sale - not from the mortgage company but from some other company who I assume have bought the debt. I suppose this indicates that someone bought it for even less than advertised, meaning the (un)secured loan won't be reduced at all, but anyway, am I right in thinking we just forward that letter to the OR/trustee?
Must say, I'll be very glad when all of this is over.
Lily:o
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