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12 Year Rule & Mortgage Shortfall e-Petition

from idgroms (idgroms@hotmail.com)
1)As far as I can see from the home-repo pages the lender has 12 years (still under dispute) ,if the mortgage shortfall is a speciality debt, in which to CHASE you and that the clock starts ticking from the date of repossession of the property or the date of sale of the property,whichever is the earliest or possibly from the date of the contract default . Logically,if they can no longer chase you after 12 years they can't recover the debt, and is then in effect a deadline.

2)I also note from the home-repo page that the Law Society has recommended a new limitation period of 3 years. Has anyone got any further information on this, as this would obviously be relevant for the e-petition.

3)I am also considering petitioning for a Mortgage Shortfall Disaster Fund (Contributions to be made by the Government),to help people suffering from this and to help people who have had their homes repossessed obtain a new mortgage.Also,to get Mortgage Shortfall Victim's names removed from blacklists,we are not criminals.Who was it who kept interest levels at cripplingly high levels and caused so many repossessions,not to mention the number of people made bankrupt and companies which went to the wall.Who wants to get into debt and lose their home,or business? If this country can send hundreds of millions ,if not thousands of millions, abroad to help people who have lost their homes due to earthquakes,floods etc...then why can't it help its own citizens,people who have been born and bred in this country?Does this country stand for Jusice or not? Over 1 million people have lost their homes, if this isn't a disaster then what is?

Mark.

(posted 8022 days ago)

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