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Mortgage shortfall
H4MMER
Posts: 1 Newbie
Good evening. ..ten years ago our house was repossessed, we bought it from Northern Rock for 62k, we left the property and they sold it for 72k. After the sale Northern Rock said we owed 7k shortfall due to costs and interest. After 10 years we get a letter from a random debt company asking for the payment. We have no assets and a car on finance and no spare money to even pay instalments. What do you think will happen to us? Appreciate any comments!
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Comments
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They may peruse you and look to take you to Court.
Get some help from the Citizens Advice Bureau.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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