Lender: The Mortgage Business(posted 7901 days ago)I am three months in arrears and have taken on an arrangement to make higher payments. Owing to a shortage of business recently (I am self employed) I may have difficulty meeting the new repayments. I have quite a lot of equity (up to 70,000). Naive question: if the property is repossessed does the sale price of the house less the mortgage revert to me, and if so what are the complications involved in this? Also what is the average time between the company's threatening to repossess and the matter coming to court?