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Who Owns My House?
PaulCT
Posts: 1 Newbie
In light of the recent Northern Rock debacle ... if the company with which I have a mortgage went bust ... who would own my house?
Would I be asked to settle my account (i.e. get another mortgage to clear the debt) or be evicted and the property sold by the liquidators?
Just curious ... all help appreciated.
Would I be asked to settle my account (i.e. get another mortgage to clear the debt) or be evicted and the property sold by the liquidators?
Just curious ... all help appreciated.
0
Comments
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quick use of the search button throws up many answers to this same question
the new owners of the debt will carry on taking paymentsEx forum ambassador
Long term forum member0 -
At least Paul isn't one of the hopeless hopefulls who are praying that in the event of the lender going bust, that the debt is effectively written off & the borrower then lives mortgage free!The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0
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