Hello annmarie.

Are you both in trust deeds?

If you're prepared to consider voluntary repossession would you also consider letting your Trustee sell the property?

yes both in it, had nothing but problems since start. was supposed to finish 6 months ago. dont know how or when its all going to end. we cant take the stress any more

Hi annmarie.

I understand from your previous thread that you dispute the valuation of your home. Irrespective of that dispute, do you believe that some level of equity is present in the property?

yep they say 31,000 we say 15,000

in answer to a previous thread tda. i would rather give my keys to lender, than let them sell my property

Hello annmarie.

I'm afraid I'm not sure whether that's an option or not. Perhaps one of our experts can share their thoughts on this...

thank you for your reply. i would br grateful for a experts view

Hi annmarie.

I suggest reading Mark's response to stevie0398's recent question as I think the scenario is in some way similar.

Hi annmarie

I've never come across a situation before where if there is equity, the individual would rather hand the keys back to the lender than have the Trustee sell the property. My own opinion is that if you handed the keys back to the lender without the agreement of the Trustee, this could potentially be to the detriment of the creditors. In a repossession the property is quite often sold at a lower value than what a Trustee could achieve. The Trustee could potentially sequestrate you and your husband on the back of this. As I say this is merely my own opinion and I would be interested to hear the thoughts of the other experts.

Julie

thanks julie for your thoughts, i know it may all seem strange but after three years for fighting not knowing where or when its going to end. its making me ill, i take any more of it

julie what would happen it i handed keys over to trustee then, where does that leave us. would we be chased for the mortage payments until the house was sold

Hi annemarie

I can appreciate how stressful this is for you.

If you remained in the house whilst the Trustee marketed the property you would be expected to continue to pay the mortgage. If however you moved out whilst it was on the market you wouldn't be expected to pay the mortgage as you would have other commitments i.e. rent.

Julie

julie what about the trust deeds then
would we hav to continue with that until the property sold

sorry just to add ive paid the full three years but still making payments towards the equity ,