If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Voluntary surrender v's repossession

nino1 · 2013-04-17 09:29:21

My understanding of a voluntary surrender is that the bank will sell your house, (often below market value) and persue the owner for the shortfall plus legal and other fees. Does the same apply in a repossession situation? And what methods do the bank use to persue the mortgage holder for the balance owed?

17-04-2013 9:29am

#1

nino1

Registered Users, Registered Users 2 Posts: 829 ✭✭✭

Join Date: April 2011

Posts: 559

My understanding of a voluntary surrender is that the bank will sell your house, (often below market value) and persue the owner for the shortfall plus legal and other fees.
Does the same apply in a repossession situation?

And what methods do the bank use to persue the mortgage holder for the balance owed?

0