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The building society won't chase me for the 165000 English pounds I owe them?
They took my house back and sold it leaving the shortfall. It seems strange that they won't even send me a letter, why?
2 Answers
- HugoLv 69 years agoFavorite Answer
Have no fear bud, they will. It can take a couple of years or so but they will chase you.
- ANFLv 79 years ago
Your house was a surety against default on the mortgage. When you could not keep up the payments they took possession of your house with the intention of selling it to make up the lost money of their loan to you. They then owned the house and it was no longer your responsibility. The fact that they had a short fall in what was owed and the selling price of the house is not your problem. You will not hear from them and you are nothing to them. They sold the house at a loss so they must bear that loss.
Restart your life and move on.