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Hidden Court of Appeal Ruling on Mortgage Arrears.
houst
Posts: 3 Newbie
The Administration of Justice Act 1973 states “reasonable amount of time to repay arrears”,
Ruling: Arrears on Agreement can be repaid over the full period of that agreement. A court not being obliged to set a shorter period.
In laymans terms the arrears can be spread over the remainder of the mortgage be it 5 years or 25 years.
The Mortgage companies don't tell you that, this also applies to credit agreements aswell.
Just wanted to share it.......,:rotfl:
COURT of APPEAL 1995
Cheltenham & Gloucester Building Society
Vs
Christina Norgan
In laymans terms the arrears can be spread over the remainder of the mortgage be it 5 years or 25 years.
The Mortgage companies don't tell you that, this also applies to credit agreements aswell.
Just wanted to share it.......,:rotfl:
0
Comments
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To be fair most lenders will share this, but if I owed you money would you not want it sooner? and it is not hidden."Banking establishments are more dangerous than standing armies." Thomas Jefferson
"How can I believe in God when just last week I got my tongue caught in the roller of an electric typewriter?" Woody Allen
Debt Apr 2010 £00
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