can you sell your house for less than you owe

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ac7

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Post by ac7 » Mon May 04, 2009 4:57 pm
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can you sell your house for less than you owe mortagge company and what happens if you do
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neverending

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Post by neverending » Mon May 04, 2009 5:24 pm
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Hi
You can, but you will need the mortgage compant to agree and release the charge on the property.
Regards
Andy Davie
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David Mond

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Post by David Mond » Tue May 05, 2009 7:24 am
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You will also be liable for any shortfall.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
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kallis3

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Post by kallis3 » Tue May 05, 2009 10:16 am
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If you do an IVA however, you can include the shortfall in that as it becomes insecure.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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