mortgage shortfall

[jmck66]

A friend of mine handed her keys back to the building society 10 years ago after splitting up with her partner.The building society then sold the house 18months later for 10k less than they paid for it.Thisleft a shortfall on the mortgage for which the bs are now threatening to sue her for (plus interest)now a grand total of 19k.My question is ,has anyone had experiences of this nature? what is the likley outcome? and what is the best and cheapest route to solve this? Thanks p.s her ex partner is still local and I assume he must be liable as well as it was a joint mortgage

[innocenti]

There is not a lot she can do I'm afraid. With mortgages they have up to 12 years to chase you for the debt.

Your friend should contact her ex and then see if they can offer a full and final settlement to pay off the debt. If not, then her only other chance it to pay it or go bankrupt.