Repossetion of house...anyone know anything about this??

[charliecat]

My friend has recently split up from her husband. He stopped paying the mortgage in October and the house was repossesed on the 8th of Feb.
They, the mortgage company dont know where my friend or the husband is.
What will the next steps be, does anyone know? She doesnt want to volunteer her new address to them, he wont.
She knows they will catch up with her/them but how long will it take?
Thanks

oops on the typos

Are both their names on the mortgage? Is there any equity in the house?

Xp's house was repossed and if i remember correctly then it was at least a year before they caught up with him.

Xp's house sold for around £47000 he had paid £45000 for it but had £3000 cashback and arrears etc added on to that so he ended up owing them around £3000.

TBH they don't try very hard to get it. It was 8 years ago now and he has never paid a penny of the £3000 and at the mo they don't have his current address.

My aunt on the other hand had hers reposessed just before xmas but hers has sold for alot more than she paid for it so she will get some money from it even when fees etc and her debts have been paid.

house brought for 60 grand, but in VERY bad nick, similar decent house selling for 90 grand..both names on mortgage.

bump...Ta nutty...2 very different outcomes