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Oakwood Homeloans Ltd

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Am i right in believing this ..

 

..we hold a mortgage over a property.

 

We purchased it in say 2006 for 140k, sub prime mortgage for 120k.

 

The markets collapse reduce the value to 70k,

the mortgage company collapse and sell its debts at greatly reduced values,

 

initially some reductions are offered by Oakwood but you are very lucky if you can obtain a mortage in the current conditions,

especially when its to replace sub prime.

 

In step the profiteers they buy up the reduced debts and in doing so the effective rights of our properties.

 

They then start the game,

add as many cost as possible,

increase the debt all under the contract and sort of legal but just add costs, costs and more costs,

19k has been added in two years and backed in a court room in my case.

 

They squeeze as much as possible and then gain control,

sell for as much as possible,

 

oh after instructing

 

the house has a make over first but not paid for until sale.

 

They advertise in local press and gazump if they can get an extra 1k.

 

The property sells £88k at profit to them but a massive shortfall to me,

 

i am exposed for a profit of £30k plus all enforcable through charging orders etc and eventually bankruptcy.

 

This is a regualted homeloan.

 

I would say i am lucky i dont live there

 

oh but then there is the charging order.

 

Morals, Britain aint got any left !

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I've moved this post to its own thread as you had posted on a very old thread. Hopefully, you will get more help this way


Steven

 

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i expect you have all the documentation?

 

i know its a sorry story.

 

but...i just wonder where all these charges poss PENALTY ones, might fit in

 

and if MCOBS is a line to investigate too?

 

dx


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