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Questions re Deed and MIG

from jen p (jlzmail@adelphia.net)
Have requested copy of original mortgage deed from B&W and they sent me a copy - it is only ONE page - they have confirmed when I asked for rest of it that this is all there is. This deed is from 1988 and says: 1 The borrower as beneficial owner charges the property by way of legal mortgage with the payment of all monies payable by the Borrower to the Society 2. This mortgage incorporates the edition of the mortgage conditions of the society current at the date of this deed 3. This deed secures further advances Can anyone tell from this whether the wording makes this as a specialty debt (can chase for 12 years) or whether it is simple contract debt (6 years)- hope I got the wording right! Do I need to ask them for a copy of the "edition of the mortgage conditions of the society" from September 1988??

Also, I have asked twice but they are refusing to show me a copy of the MIG as it is between them and the insurers - do I need to push for this?

To recap, property was handed back in 1994 and they are chasing me for a 30K shortfall - they sold on 29 March 1996 (taking $45K after rejecting 6 higher offers - one for $52K in May 1994)!! - I am obviously writing to ask why they rejected higher offer. I am going to try throwing the six year rule although they contacted me 5yrs and 11mths after selling property but I will argue that is is 8 years since mortgage contract was broken - dont know if it'll get me anywhere. If anyone can offer any advice on the deed/mig etc - it'll be more for me to throw at them. Please help as I cannot afford a lawyer and want to get this sorted out. Thanks for all the help from this excellent website

(posted 8011 days ago)

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