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commercial property repossessed


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hello all

well i hope somebody can help, i will try and keep my initial post as brief as possible as im not sure what details i need to add.

 

to start with i had a mortgage on a commercial property, due to financial difficulty and a messy divorce this property was repossessed in july 2008.

my mortgage amount was about £129,000, the property has now been sold for £110,000. i received a letter stating i now owed in excess of £30,000 due to the shortfall plus costs, along with this letter came a questionnaire entitled 'finacial situation' (which i have not completed).

 

my main concern is i have now received a letter from the courts say the mortgage company is applying for a charge order over my residential property, now the commercial mortgage as i can remember was not secured on my home, so is this normal and what are the consequences

of this?

 

my home is currently in negative equity so hopefully they cant force me to sell it.

 

so im really confused and quite scared about how to deal with this, so any help by way of advice will be greatly appreciated.

 

thank you in advance

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