A voluntary repossession is essentially where someone hands the keys in before or during court proceedings voluntarily. So therefore the lender cannot choose to accept or deny, however on past experience i would always recommend trying to sell the property yourself as most lenders are more interested in selling quickly than getting a fair price to mitigate their losses. This is even more important if you have 2nd or even 3rd charges on the property.(posted 7589 days ago)Yes lenders charge and calculate interest to the account until the date of sale and then this is worsened by sales costs, legal costs, maintenance costs, insurance costs etc etc
Yes most people stop paying before they hand the keys in let alone upto the sale date.