02-08-2013, 12:04 PM
21
Re: mortgage woes
Originally Posted by Uncle Joe
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Julie the advice I gave Steve is 'proper' as you call it, since for more than 21 years I was a founding member of a Neighbourhood Law Centre. Prior to 1986 (when the law was changed) I was a member of the Supplementary Benefit Appeals Tribunal panel. I have, (and continue to do so, provgide advice up to and including representation at Social Security and Disability Appeals Tribunal hearings as well as Social Security Commissioner appeal hearings.
CAB needed all our financial records to help us when we went to them, they didn't sit down and advise us on what we told them on the phone.
I stand by my comment it is dangerous.
02-08-2013, 02:40 PM
23
Re: mortgage woes
Originally Posted by Jimmy
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I must admit, I'm lost here, how can someone have their house repossessed and get a 90to 100k lump sum for it?
This is why I am suggesting Martin seeks proper advice we took advice from the wrong source and lost a lot of money leaving us homeless. On the face of things if Martin has equity of that sort of figure he would be best selling up and not being repossessed. But with out all the information and facts before us we cannot advise him sensibly. Some thing UJ should understand if he has been what he says he has.
02-08-2013, 02:46 PM
24
Re: mortgage woes
So, if your house is re-possessed, they sell it, then take what you still owe for the mortgage plus any costs, out of the money they get, then give you the remainder.Is that how it works?
Edit
Plus, if you owe 30 grand and they only sell it for 20 grand, you will still owe 10 grand
02-08-2013, 02:47 PM
25
Re: mortgage woes
Originally Posted by Jimmy
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So, if your house is re-possessed, they sell it, then take what you still owe for the mortgage plus any costs, out of the money they get, then give you the remainder.Is that how it works?
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