Archive for the ‘business’ tag
Unsecured Loans
Lenders are now using the collection of the homes when they dont get their payments on unsecured loans.?
This is legal and when a property comes for sale they claim their share.They not have power to instruct a sale on a property where the debtor is only part owner, am I right?
A Charge To act as a mortgage on the property and ranks behind all existing mortgages in terms of priority of settlement, any revenue from sales. Some creditors are willing to seated at their duty orders until the next sale takes place. But they do not do it. They may apply to the court for an immediate order of sale. I know because I have professionally had to do just that for a client. If that happens, it seems as if all hell breaks loose. But it can happen.