[ Post New Message | Post Reply to this One | Send Private Email to ahmad butt | Help ]

Response to Two Mortgages - One in Joint names one only in mine

from ahmad butt (ahmadbutt@talk21.com)
1 Which County Court is your case listed in?

2 Do you already have a possession order?

3 Do C&G know about the 1st prop was being let?

4 How long ago was the last warrant issued?

some answers

The 5k secured on the 1st prop as 2nd charge will be paid only if there is enough equity. If not then the lender may chase you for the shortfall.

Your new prop would only be threatened if there was money owing after repo and sale of the 1st prop.

( the unsecured shortfall would need to be made secure i.e. CCJ first then charging order, then sale. but it should not be easy for the lender )

To suspend a warrant is not too difficult! you need to show the court how you intend to clear the arrears,( financial statment, income and expenditure) if the time scale is reasonable then the court would ususlly allow a further suspension.

The courts are there to help you!

good luck

(posted 8584 days ago)

[ Previous | Next ]