On Friday 21 May I received a letter advising a shortfall of #27,385 is due from me.(posted 9101 days ago)The details are as follows.
- I received the letter from the lender (not solicitor or agency), Lloyds - The mortgage was in my name only - I know have another house with Abbey National in joint names with my girlfriend - When I purchased my flat in July 1989 Black Horse (part of Lloyds) valued it for #50k; they sold it September 1996 for #13,500 which works out at 27% of the original value. One or both of the valuations would seem to be off! - I voluntary gave up possession of the flat using a specialised company in Southend whose name escapes me for the moment. I do have the paper work but after moving three times in as many years need to lay my hands on it.
I purchased another property in 1993 taken into account the flat I have already into the mortgage multiple (negative equity mortgages didn't exist then) and tried to rent the flat out. The rent did not even cover the mortgage and thats when I could rent it. When my wife and tried for a family I could no longer afford to keep the flat and took the chance to hand the keys back.
My recent life history in brief, 9 months later baby boy, 3 days later he died following accident in hospital, wife and I split up over trying to cope with it, sold house, met someone else purchased house July last year, found out she was pregnant when we moved in, now have 3 month baby daughter no money but happy, until last Friday that is!
So I have a massive legal bill for the divorce (#2k) and know having to content with this. I must admit to feeling a little depressed over the weekend but after death, divorce I think I can take this on
I have until 03 June by which time I should have replied. I am in the lucky position of really not having any spare cash to speak off as mortgaged up to the eyeballs, newly arrived daughter and trying to survive on one salary (not practical for girlfriend to work at old job min 12-hour day).
The outcome I would like to clear this debt in some fashion so I don't have to worry about it, not paying any money would be great.
I look forward to hearing from you.
Regards Kevin Trill