Response to Under-valuing of repossessd houses/flats

This practice doesn't just affect the North. I live in the South West and when our house was repossessed in '91 we had it on the market for B#69k, after repossession the Lenders sold the house with the same Estate Agents for B#46k. Their answer to this was the slump! The funny thing is that the difference in price was B#23k and they are chasing us for B#27k! Amazing isn't it?

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