Mortgage express and shortfall payment

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My home with my ex wife and children was repossed after our marrage broke down in 1994. In 1996 mortgage express repossed and sold the property and towards the end of 1996 they contacted me do advise me of the sale of my property. This was the first contact with mortgage express since 1993, well they informed me of a shortfall of 36000.00 which freaked me out. Well after a few polite phone calls and a couple of letters I made them an offer of a one off payment against the shortfall dept of 4000.00 to which they excepted. I made this payment in person by bankers draft in early 1997 and received a letter confirming that "I have no further liability to mortgage express or ther insurers and they have accepted this payment in full settlement of all actions, claims or demands against me". Well 2 weeks before christmas this year 2003 I received a card from a dept collecting agency asking me to contact them as I owed there client mortgage express 36000.00. As Luck would have it I still have all the correspondance form 7 years ago and replyed with a copy of the final letter I received from mortgage express.. I am still waiting for a reply and the worry has reuined my Christmas and New Year. What claims do they have on me after I have already paid a one off settlement. Hope someone can advise.

Regards Paul

-- Mr P Wagner (lnjwsecsys@supanet.com), January 02, 2004

Answers

I think the short answer to your question is - none. Well done for keeping all the correspondence and, if the situation is exactly as you have described it, I think you can deservedly look forward to a good 2004. One word of caution though - was it a joint mortgage and does any of that correspondence preclude Mortage Express from pursuing your ex wife for any shortfall?

Brian.

-- Brian Mitchell (pridegreen@ntlworld.com), January 02, 2004.


Thanks for the reply and YES it was a joint mortgage and as far as I am aware my ex made her own arrangements with Mortgage Express my correspondence was only directed at me.

regards Paul

-- Paul Wagner (njwsecsys@supanet.com), January 02, 2004.


So, when you referred to "my home" and "my property" you meant "our."

Knowing Mortgage Express as we all do, I think if your ex-wife didn't make a settlement as you have done she can expect to be hearing from them. I'm so sorry about your Xmas and New Year ....

-- Brian Mitchell (pridegreen@ntlworld.com), January 03, 2004.


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