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2nd Charge - Info Requ'd Please ?

from Kenneth Haymes (kennyhaymes@aol.com)
A close friend is having his home repossessed by their building society as they can no longer afford the mortgage payments due to ill health over several years. (They have no access to a computer for the same reason). However, they have also got a second charge charged to a bank. Do they have to notify the bank about the possession proceedings with the building society ? They have considerable negative equity and there will be nothing left to cover the first charge let alone the second charge. Can and will the second charge/bank object and should they be a party to the proceedings ? any info for them would be appreciated. Thanks, Kenny.
(posted 8488 days ago)

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