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Shortfall after house sale
sofababe
Posts: 1,394 Forumite
Hi there,
A question from my friend today that I couldn't answer. She and her husband went bankrupt earlier this year, they are close to their discharge date.
They handed the keys of their house back to the bank (Santander) before it could be repossessed and it was included in the bankruptcy. Two weeks ago they had a letter from Santander saying there was a 6k shortfall on the mortgage, and asking for payment. They gave Santander their BR number/details and haven't heard anything since but my friend is concerned that they may still be liable for the 6k.
I said I thought if they included the mortgage in their BR then there was nothing to pay (and Santander undersold the house anyway).
Was I right in my assumption?
A question from my friend today that I couldn't answer. She and her husband went bankrupt earlier this year, they are close to their discharge date.
They handed the keys of their house back to the bank (Santander) before it could be repossessed and it was included in the bankruptcy. Two weeks ago they had a letter from Santander saying there was a 6k shortfall on the mortgage, and asking for payment. They gave Santander their BR number/details and haven't heard anything since but my friend is concerned that they may still be liable for the 6k.
I said I thought if they included the mortgage in their BR then there was nothing to pay (and Santander undersold the house anyway).
Was I right in my assumption?
0
Comments
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As long as they didn't sign anything after their BR date that says they are liable for any shortfall, then they are not liable for it.
It would be covered by the BR.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0
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