hi,
some questions:
How would you go about selling your houses if they are in negative equity?
would you find potential buyers first and point them to receiver?
If houses (one home two rental) are in both spouses names would wife have to go to UK also?
It is actually possible to force the lender to allow you to sell. We have a great way to do this. Sorry to be secrative but there has to be some trade secrets.
So banks in general won't allow people in negative equity to sell ? If someone in negative equity stops paying their mortgage will the bank not repossess and sell?
There are also quite a few properties that are unsaleable, or would only realize a miserly amount. Apartments in Bally-go- backwards for example which should never have been built.
I never really understood the significance of forcing the bank to sell if in negative equity.
Surely once you are declared bankrupt you can hand the keys to the OR and that's it. It's the banks house now.
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