If you were under the impression that the MIG would cover the shortfall then it's more than likely that the reason you gained that impression is because you were mis-sold the MIG in the first place.(posted 8070 days ago)In my honest opinion (based purely on myself being a victim of what I believe was the Halifax's deliberate gross negligence) I would go for the third option. The information on the Home Repossession site is there to help you.
Good Luck !