All Forums  archive  Forum Questions  I have a secured loan against my home. Could the courts make me sell up ?

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Screensize: 640 x 480 800 x 600 1024 x 768 1280 x 1024 UserName: Password: Format Mode: Basic  Help  Prompt  Format: Font Andale Mono Arial Arial Black Book Antiqua Century Gothic Comic Sans MS Courier New Georgia Impact Lucida Console Script MT Bold Stencil Tahoma Times New Roman Trebuchet MS Verdana   Size 1 2 3 4 5 6   Color Black Red Yellow Pink Green Orange Purple Blue Beige Brown Teal Navy Maroon LimeGreen Message: * HTML is OFF * Forum Code is ON Smilies [quote][i]Originally posted by Joseph.43[/i] [br]I have a secured loan against my home that has at least 14 years still to run. If I am declared bankrupt what possible outcome could the courts rule ? The house is valued at £70'000 maximum, the remaining mortgage is approx £12'000 and the balance of the loan secured against it £53'000. Could the courts make me sell up to release the small amount of equity, and if so, what would happen to myself and wife as we would then become homeless with no family to help out, and no credit to rent. Any advice greatly received. [/quote]   Check here to include your profile signature. Check here to subscribe to this topic.