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bankrupt and property quick question
earwig
Posts: 1,097 Forumite
hi if you have a home which is just mortaged on a 125% mortage and you go bankrupct came you still keep your home or do you lose it under the bankructy thanks
i cant slow down i wont be waiting for you i cant stop now because im dancing
0
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hi if you have a home which is just mortaged on a 125% mortage and you go bankrupct came you still keep your home or do you lose it under the bankructy thanks
Hi earwig,
If your home is in negative equity you'll get to keep it. You'll need to purchase the O.R's beneficial interest to neutralise any future increase in house prices but that's just a formality.
Richard0
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