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shortfall question

from jacqueline pacey (paceyj@paceyj.screaming.net)
We bought our home for #45000 in 1987, With advances on it - had a mortgage for #60000 and had it repossessed in 1996 by Nationwide. They sold it in July 1997 for #39000. Didn't hear anything until Nov 1999 when the b/society's solicitors demanded a shortfall amount of #42000 "ish" We served a subject access right demand on N/wide and received 2 large files on myself and my husband with regard to our records. I contacted the solicitors demanding to know why N/wide sold the property for less than we bought it for in the first place and received a letter confirming a reduction of their demand by #6000. In the files it says on an internal letter "have the lenders considered moving to a smaller property?" I suggested this at one stage and was told to "sit it out and see what happens" - What do I do now - the solicitors are threatening us with seven days and if we don't contact them action will be taken. I'm at a loss what to do!! Can anyone help please??? Here's hoping so. Jacqueline Pacey
(posted 8762 days ago)

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