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repaying negative equity
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Sorry, but this sounds like an 'inside' job to me! :eek:
25 years ago maybe but since the last house crash most lenders are pretty careful how they dispose of repos so that they can't be accused of such things. Also, how would you go about proving it even if it were true?
Market here was flat for about 10 years, so selling as a repo in 99 from buying in 93 could IMHO easily result in a loss. We also don't know if the place had deteriorated in that time.
"From 11 February 2000, lenders who are members of the CML have agreed voluntarily that they will not pursue a shortfall debt following a mortgage possession if they have not managed to contact the borrower within a period of six years from the date a property was taken into possession."
So it's best to sell the debts after about 5 years or so ?
or :eek: (Don't think CML members are likely to sell debts actually, that was a bit tongue in cheek)
OR
does that actually mean repos occurring before that date will still be pursued ?
OR
does it mean that someone in the Marsden's arrears dept isn't interpreting the CML guidelines the way it was intended to be read?A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0
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