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ginalove

yes Richard we are in court tommorow oh managed to get a letter from nor rock to say wev'e agreed to pay our arrears so we are hoping it will be a matter of formality. the house was valued yesterday for107000 to achieve a selling price of 105000 we owe about80000 but then selling fees and early redemtion fees will swallow a good chunk of that--good eh! g

Richard_S

ginalove wrote: »

just a quick question, we have now had our house valued and we now know about how much equity we will have (not as much as we hoped )! however if we sell find somewhere to rent pay off some of our debts and then go b.k.will we be in trouble for spending the equity our own way? g

Hi gina,

You won't be in trouble at all, especially if you repay some debt. A less scupulous person than me might even consider putting some of that away for a rainy day.;)

Regards

Richard

Richard_S

ginalove wrote: »

yes Richard we are in court tommorow oh managed to get a letter from nor rock to say wev'e agreed to pay our arrears so we are hoping it will be a matter of formality. the house was valued yesterday for107000 to achieve a selling price of 105000 we owe about80000 but then selling fees and early redemtion fees will swallow a good chunk of that--good eh! g

Hi gina,

That will be a formality.:D

There's a possibility that N.R might not even send somebody to represent them. The Judge will explain what a Suspended Repossession Order is, and stamp the Order and that'll be it. Loads of suspense before, 10 minutes at most with the Judge, and then out.:T :T

Regards

Richard