Posts Tagged ‘mortgage shortfall’

Mammoth overall savings of 92%!

Mammoth overall savings

Our client approached us with a crystalized debt of over £150,000, owed to a huge banking institution in the Republic of Ireland. The client had not had any contact with the said lender for almost 5 years and had relocated to England to pursue new ventures. Out of nowhere, he received letters from the bank,…

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Unaffordable Negative Equity Property

Unaffordable Negative Equity Mortgage

Like many since the financial crash, our client came to us in a position where they could no longer manage to repay their mortgage due to the continuing and difficult financial situation they were in. With an outstanding balance of £120,000 on the mortgage, the property was found to be in severe negative equity after…

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A Complete Guide to Negative Equity

A Complete guide to Negative Equity

The term ‘negative equity’ is one no homeowner wants to hear. But what is negative equity and what does it mean if you find yourself hearing those dreaded words? Since the start of the recession all those years ago, the term has been paraded around the media more than any other. The mere mention of…

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Negative Equity – Mortgage Shortfall Success

Negative Equity Settlement. Our successful settlement this week comes from Northern Ireland where the property is based in an area where prices never recovered from the 2008 crash. Our client, living in the area was suffering from a significant drop in the value in their property. Unable to keep up with repayments, they considered selling their…

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£16,000 Settlement on £100,000 Mortgage Shortfall

settlement

£16,000 settlement on £100,000 Mortgage Shortfall This case was quite complex in nature from the onset. Our client approached Bell & Company with a property that he could no manage to repay due to an uncertain financial situation he came into. The property was in severe negative equity with mounting repayment costs. Due to the…

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Mortgage Debt Settled with Savings of £40,000

Mortgage Shortfall of 9.4%

Mortgage Debt Settled with Savings of £40,000 A client approached Bell & Company in early 2016 with a property that they could no longer afford to keep. The property was in severe negative equity and the repayments were becoming difficult for the client to make. Coupled with the arrears and the mortgage shortfall worries, our…

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My home has been sold and now I have received a letter chasing an outstanding balance. What are my options?

property crash

As the various lending institutions work through their ‘delinquent’ mortgage books, more and more people are approaching us at the end of the sale process, when the lender and their agents, usually solicitors, chase and seek recovery of the outstanding amount due, after the disposal of the asset(s) involved. If a property was purchased pre…

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Marriage breakdown – Divorce Situation

Marriage breakdown

Mortgage Settlement A couple from Co Down with a marriage breakdown sought help from our specialists after their divorce as they agreed it was beneficial to sell the property they owned together which forced them into Negative Equity. The mortgage on the property was for £204,000. We achieved agreement from the lender to a consensual…

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