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(@pamjo)
Reputable Member
Joined: 14 years ago
Posts: 355
 

Sorry-another ?
If the pTD is finished, can the individual pay the equity requirement?
Is that the same for sequestration, the discharge can only happen after equity requirement is settled?


   
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(@plasticdaft)
Noble Member
Joined: 16 years ago
Posts: 1594
 

Post normal contributions in the trust deed if the equity figure can be cleared in a reasonable timeframe you may continue to make payments to cover equity. Not sure if sequestration is the same.

Paul

Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.


   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

Hi Pamjo.

Regarding a trust deed, the individual can take care of the equity once the period of agreed contributions have been completed (assuming the plan is agreed by the trustee).

In sequestration, in many cases, there may be no monthly contribution (or little monthly contribution) and therefore no expectation that it would be possible for the equity to be dealt with in this way.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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(@pamjo)
Reputable Member
Joined: 14 years ago
Posts: 355
 

I see why the expectation of being able to fund payments would differ. Is the before / after issue the same for both pTD and sequestration tho. I mean, is it permitted for the individual as well as a 3rd party to pay towards equity after both?


   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

That sounds like something to discuss with a potential trustee if you are considering appointing one Pamjo.

Obviously if one was appointed for you you'd be in their hands.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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