Response to Joint & Several liabilty on repossession shortfall

Mike you must check to see if you were joint tenants or tenants in common.It is more than likeley that you were joint tenants in which case they will chase you for your liability although I beleive that they can make you joint and severl liability,you would have to check this though.If you were tenants in common then there is no joint liability.I hope that this helps but read all of the q/s relating to shortfalls before you do any thing do not be threatened to make an income /expenditure .Do not do anything until you have asked them for all the sale details.There is so much good info here even as a professional problem mortgage intermediary I can't do without this page.And a s Churchill said;never,ever give in!

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