what of yours is claimed???

thegoodlife

What does "what of yours is claimed" mean on the list of secured creditors , it says what of yours is claimed and what is its present value, well I know it means the value of the house but the other bit not sure, I am stuck on this page I cant make my figures work!
http://www.ned-cab.org.uk/debtselfhelp/images/forms/628-014a-large.gif

sorry to go on about this but I have been trying to sort it out all day , thanks

we have mortgage balance of 113,000 , secured loan of 62,000 and house worth 150,000 , so in negative , should the total net amount owing be minus or positive?

sieve

In mine I put "Mortgage on (address)" and also what the house is currently worth in that box.

So Box A had the amount owing on the mortgage, Box B had the current value of the house, and A-B showed the shortfall. Make sure A-B is not showing as a negative number as otherwise the BR forms will show that you have equity in it.

thegoodlife

Thank you so my mortgae amount owing is £113000 (A) , the present value is £150000(B) , so the net amount is (A-B) which is -£37000

This is were I get unsure the secured loan amount owing is £62000(A), the present value is £150000??(B) so net amount is (A-B) which is something silly ,
and I need to get to a figure of £25000 as the total net amount owing on the bottom, I cant seem to do this lol

debtinfo

Hi, i have answered on the other post with figures. for the secured loan what they are claiming is what is left after the mortgage and so is £37,000 not £150,000 as they are only entitled to what is left over

thegoodlife

thanks everyone it has really helped ,now sorted !!