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Is this right? B.I
Leesmom
Posts: 138 Forumite
If the Or offers us the beneficial interest does this mean he will not enforce the sale of the house?
or does it mean he can still force the sale but we will get any equity left over?
At the moment its around £10,000 in negative.
Many thanks for your replies
or does it mean he can still force the sale but we will get any equity left over?
At the moment its around £10,000 in negative.
Many thanks for your replies
0
Comments
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If you purchase the BI it means he has done with it. He will only force a sale if there is large equity that no one can buy...0
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The OR will, usually, put a time limit on the purchase of any BI - in our case, they said twelve months, but it took nearer to eighteen months.
The OR will, normally, only force a sale of the house, through the Courts, as a final resort.I am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS0 -
Thankyou so much for your quick responses, hopefully we will be safe in this house then as long as the mortgage is kept upto date.0
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