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Response to NEW MORTGAGE AFTER BEING REPOSESSED

from David J. Button (davidjohnbutton@supanet.com)
If you pay the agreed full and final settlement, I believe that the repossession register will still contain your name but that it will be marked you have satisfied the claim.

Really, its just like receiving as summons and not paying it within one month - it then still counts as a judgment, but the judgment is marked as satisfied. With the mortgage, you still defaulted and were repossessed, and no settlement will ever change that. You have to ask yourself if you were a lender, would you take somebody on that had defaulted and been repossessed and then later on settled up - would you given them a new mortgage? As I said in my earlier posting, try some sub-prime lenders!

(posted 7871 days ago)

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