Mel,(posted 7650 days ago)The first thing you should do is write back to the lender stating that you have received their letter and you do not understand how they can *anticipate* the shortfall when the property has not even been sold yet. (If your original mortgage was £25K and they are anticipating a shortfall of £19K, my maths says that with a guess at possible interest and costs, they are selling your property for about 10K?, does this sound reasonable? - you know the area and current property prices).
You should also state that due to the seriousness of the matter in terms of how it could affect the rest of your life, you do not appreciate being given time limits to respond as you are seeking advice and will contact them again when you are in a position to reply after considering *all* the facts.
Do it today, and that will take some of the pressure off.
Tracey