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Response to demanding payment of anestimated shortfall

from denise (denise@amun-ra.demon.co.uk)
Don't make any arrangement to pay anything. The Halifax tried this with me when my home was repossessed. They did this on the pretence that if I made an arrangement to pay on an estimated shortfall of 17,000, if it was any more, then I wouldn't have to pay that extra. I told them basically to get lost, because there wouldn't be a shortfall if the lender sold it at the market price rather than auctioning it off.

Whatever happens, they are going to be after you for money. I would suggest that you write back and state that the house is worth xx amount and there is no reason why it shouldn't sell for that (hoping your house isn't in negative equity!). And that you will negotiate with them, when and if there is any shortfall AFTER the sale.

Asking you to make arrangements now, is getting you to admit that you owe them before anything happens, and could weaken your case afterwards. Let them approaach you once the house is sold and then get them to justify their figures.

Best of luck

(posted 8730 days ago)

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