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Bankruptcy and Mortgaged Property in Negative Equity

what if I have a mortgage but the property is in negative equity will I still have to move out in case of bankrupcy?


Please understand that bankruptcy is all about unsecured debt and (generally) excludes secured property, so provided you maintain your mortgage payments the property will not be affected. The Official Receiver will defer any decision re the properyty for two years and three months, pending another valuation – if the position is unchanged, the OR will give up his interest in it.

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