House Repossession Does it go to auction or sold?
June 10th, 2010 by admin
My dads house has recently been repossessed. We live in the UK. The mortgage oweing is 70K and house is worth £105k. Can anyone tell me when the lender takes it will it be sold at auction or on the open market?
Thanks
Thanks for all the answers so far. Its a horrible situation my dad has been in the house for 30 years. My mom finally forced a remortgage 6 years after they seperated to get her cut when the mortgage was nearly paid. He got injured and on top of mortgage rates going up I think he gave up the fight. The country is in chaos and I wish all the best to anyone in this situation
Sell and Rent Back
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