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Joint Mortgage - other party bankrupt!
Comments
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That was in joint names too. I
Has it been sold yet? If so, was it in negative equity?
If so, the mortgagor will pursue you for the shortfall!No, I don't think all other drivers are idiots......but some are determined to change my mind.......0 -
Yeah, they rang me. When I told them how much I earn they lost interest. I said I'd contribute a little each month, but it was a drop in the ocean so they didn't bother following it up.0
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Be careful when dealing with you bank on the buy to let. Most buy to let mortgages do not allow owner occupation. When it comes to mortgage renewal you'll be on very sticky ground.0
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They know I'm living there, but they're okay with it.
I won't be looking into renewing though, unless I really have to. If it ain't broke, don't fix it.0 -
At some point the official receiver will send you a letter as tenant letting you know about the bankruptcy. At least, normally. That might not happen since they know that you are one of the owners as well as tenant. That would be a good time to contact the OR and ask if they are aware of any plans to force sale of the property.0
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Good point. I'll do that for sure.0
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