From: Stephen@mailinator.com
Newsgroups: uk.finance
Subject: Re: Insufficient profit from selling property to pay off secured load...
Date: 2 Nov 2005 13:51:08 -0800
   posting-account=FMtZ4Q0AAADDBfHcW-oYqBCYtFeEmnBO


Richard Faulkner wrote:
> In message <1130946266.433455.237360@o13g2000cwo.googlegroups.com>,
> Stephen@mailinator.com writes
> >Generally speaking, if I have a loan secured on my flat and sell the
> >flat what happens if there is not enough profit after the bank takes
> >it's share to pay off a loan secured on the property?
> >Do repayments continue as normal but 'unsecured'?  Or does the lender
> >take as much as it can from the money left over and then work out a
> >repayment plan for the remainder?
> >
>
> Or does the lender refuse to release the charge on the property and you
> wont be able to sell - most likely, or even guaranteed.

I think the lender over-valued the property so it's no longer in line
with market value.

> 
> -- 
> Richard Faulkner