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Can this really be? Advise on F&F please asap.
blondieliz
Posts: 103 Forumite
Hi Guys,
Have had something hanging over me for ages, basically my ex and I had a property that fell in to negative equity, it was a 100% mtg and then they offered us additional lending. hhey
We split and sold the property and even though the debt was mainly his (he used the additional to pay for some of his debts), it was left at over 19k.
I enlisted a solicitor to help me as I wsa being royally screwed by my ex. Today my ex called the mtg company and initially we offered 1.8k as full and final, but they came back to us and advised us that they would accept 3.8k.
Can this be right? Once it's agreed and in writing can they go back on it?
I feel like I could fly at the moment, I am overwhelmed. This has been a noose around my neck for 5 years.
Does it sound too good to be true?
Have had something hanging over me for ages, basically my ex and I had a property that fell in to negative equity, it was a 100% mtg and then they offered us additional lending. hhey
We split and sold the property and even though the debt was mainly his (he used the additional to pay for some of his debts), it was left at over 19k.
I enlisted a solicitor to help me as I wsa being royally screwed by my ex. Today my ex called the mtg company and initially we offered 1.8k as full and final, but they came back to us and advised us that they would accept 3.8k.
Can this be right? Once it's agreed and in writing can they go back on it?
I feel like I could fly at the moment, I am overwhelmed. This has been a noose around my neck for 5 years.
Does it sound too good to be true?
0
Comments
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Mortgage shortfall debts are often settled at low percentages as many debtors go bankrupt at this stage.
If you wanted to decline and then offer lower than 20% they may accept but if you're happy and can afford that deal then go for it.
You do need confirmation in writing and it should use the phrase 'full and final settlement'. Keep the letter 6 years.0
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