shared appreciation mortgages

Guyc_2

A bos, (shared appreciation mortgage) has just come to light as my father has just died. I have seen help that is under way for people that registered their complaint years ago, but is there anything that can be done at this present time to avoid 75% of the increase of the value of the house being paid.
Thanks. Guy

volvoskoda

Hi Guy. My father died Feb this year, and it has also transpired that they has a SAM with BOS. It would appear that it was a total rip off. My mother is in the situation that she is going to find it difficult to stay in the property, but would find it impossible to sell, and buy something else due to the amount that would be due to BOS.

I have found some paperwork that my Dad completed re the class action that was going to be taken out against BOS (which he signed up to). It would appear that it was thrown out of court. The interesting thing is that they only sold these mortgages for 2 years.

Maybe this whole thing should be looked at again by lawyers that are not on the bank's side?

Some lenders have a hardship fund, wwwDOTwoolwichDOT coDOTukSLASHmortgagesSLASHshared-appreciation-mortgagesDOThtml

Does not seem to offer much hope though.

Let me know how you get on, and if you hear of anything that might help my situation, it would be appreciated.

Nic

DevCoder

I like spam as well