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Response to voluntary repossession, how to get another mortgage?

from Eleanor Scott (eleanor.scott@btinternet.com)
Your best bet is probably to start reading this site thoroughly, especially 'Repossession' (and this Q&A board.) This will show the importance of asking the lender to justify the valuation/sale price, and to ask questions about its documentation of any 'debt', eg MJO, sundry 'expenses', etc. You don't want to end up paying out hundreds of pounds for someone to come and clean your front door knob.

You should probably also serve SARNs on lender and credit reference agencies. (Again, see this site under Repossession for details.)

If you want to 'settle' so that you can 'start again', well, many people do, but if the lender sold your house too cheaply you might consider standing your ground.

(posted 8343 days ago)

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