What to do after Repossessiongreenspun.com : LUSENET : Repossession : One Thread
My property got repossessed in august this year, i want to know what i can do know, i bought the property for 47,500 from the abbey national in 2001 but in august this year it was repossed the asking price was 55.495 but i know an offer has been put in at 60,000 but the abbey national hasnt accepted it due to the interest in the property, i know they changed the locks, cut the grass but nothing in side will i get to see any money that is made on the property what step should i take now.
-- tanya Collier (firstname.lastname@example.org), September 23, 2003
The house had now been sold for 65,000 we know the people that have bought the house, they signed the contract and moved in last week, what is the proceedure now,
-- Tanya Collier (email@example.com), November 17, 2003.
See item 19 (Proceeds of Sale) on the CML's Statement of Practice on Handling Arrears and Possessions:
Also read: Debt Following Mortgage Possession
What happens to a mortgage debt after a home is repossessed?
on: http://www.cml.org.uk/servlet/dycon/zt- cml/cml/live/en/cml/pub_info_dept
-- M Amos (firstname.lastname@example.org), November 17, 2003.