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Will the mortgage company take my house in payment?
16 Answers
Hi ABers long time no speaky-see! Hope you are all well?
If I have a property I want to dispose of as:
A) It no longer suits my family's requirements due to having an ageing family and not enough space. i.e. a boy and a girl sharing a bedroom :-(
B) I have been pre-offered a larger council owned property in my own area which is suitable to our needs.
If I can't dispose of my property through standard sale in a timely fashion without resorting to achieving only 50 - 60% market value from a quick sale company; I stand to lose my chance of the other property. Are mortgage companies ever known to take properties and write off the mortgage against them?
TIA
DG
If I have a property I want to dispose of as:
A) It no longer suits my family's requirements due to having an ageing family and not enough space. i.e. a boy and a girl sharing a bedroom :-(
B) I have been pre-offered a larger council owned property in my own area which is suitable to our needs.
If I can't dispose of my property through standard sale in a timely fashion without resorting to achieving only 50 - 60% market value from a quick sale company; I stand to lose my chance of the other property. Are mortgage companies ever known to take properties and write off the mortgage against them?
TIA
DG
Answers
Best Answer
No best answer has yet been selected by daginge. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.I am not about to lose the house M-J-J I just can't sell it myself, not through want of trying mind, we have previously sold it, twice in the last 5 years. For £85k when things were good and then last year for £73k after things went a bit south, but we were let down at the last minute on both occasions.
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