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Repossession - the other side
Comments
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Well it would seem to be clear that it couldn't be anywhere near completion - probably just got to the point where mortgage redemption figures had been requested or possibly searches had revealed an inhibition.
Oh I see, "sarky" - best left to those who can express themselves on an internet forum. Hehe.0 -
I don't understand why a lender would do this as they would get more from the current sale going ahead than reposession and resale at auction. Just seems a funny decision to make.
OP you might get the house cheaper now.
Don't worry, they'll get it in anycase. Except if they wait, they still charge interest...0 -
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I don't understand why a lender would do this as they would get more from the current sale going ahead than reposession and resale at auction. Just seems a funny decision to make.
OP you might get the house cheaper now.
It may not be the mortgage lender that has repossessed the property, it could a secured loan has been defaulted on, the loan company has pushed for the repossession. Also not all repo's go to auction, the majority are marketed via EA's with an aim to achieve close to market value.0
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