I have a house that is about to be reposessed by the Woolwich. We have had the house since 1991 and the outstanding balance is about 40% of the market value of the house.(posted 7304 days ago)There is also a small secured loan on the property with another lender. What is likely to happen regarding payment of this loan.
Also if the house sells for anywher near market value what will happen to the excess money. Will we recieve this money?