repossession and black list

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My friend has a house that she hasn't lived in for a number of years. Its worth half the value from the original price it was bought for. I want to know how she will go about to hand in the keys or even stop paying for the house. She has a full time job and wants to give the house back but is worried about what will happen and does the black list last for a long time. She has a mortgage with the Halifax the amount was 22 000 The house is now worth around 15 000 She has been paying for 7 years Please can you reply with advise as asap as it needs to be done very soon Many many thanks Dave Lucas CO Wendy White

-- Dave Lucas (slain69@line.net), April 21, 2001

Answers

Hi Dave,

You say the mortgage *was* for 22,000, by which I presume you mean that this was the amuont owing 7 years ago. How much of the capital has she paid off over 7 years, or how much endowment value has she built up over that time?

-- Eleanor Scott (eleanor.scott@btinternet.com), April 22, 2001.


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