Hello,(posted 8099 days ago)Regarding your query re. the sale price of re-po'd properties - there is a requirement in the Bldg. Society Act of 1986 which is that the B.Soc must 'obtain the best price reasonably available'. That price will be governed by the state of the market - either bouyant or depressed - as the case may be.
I.M.H.O......... If the market is bouyant it would be reasonable to expect the lender to market the property in a fair and effective manner, resulting in more than one offer in order for the 'best price' to be achieved. The best of only one offer is not possible. If they have not marketed the property efficiently and fairly,if at all, it would be reasonable to assume that 'best price' has not been obtained and that they have therefore not complied with the requirements of the Act.
In a depressed market the 'best price' may only be the best of a bad job, so to speak.
I would suggest that you go to REPOSSESSION on this site and read all the contents - there's a lot of valuable info. there.
With regard to obtaining a mortgage I will e-mail you privately with details of a contact point for those who have 'adverse credit' problems. I don't want to put this up on the site simply because I don't want it to be construed as advertising.
Good luck.