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.
I have a secured loan against my home. Could the courts make me sell up ?
Posted - 20 February 2013 : 21:30:04
