Shared Ownership House with Equity : LUSENET : Repossession : One Thread

Hi, I have recently had my house repossessed. It was purchased share ownership, and I defaulted on the mortgage share. My question is, the mortgage company is selling it outright and will pay the housing association share, but will the remaining equity of around #25,000 after all the costs etc., be paid back to me. I realise that if there was a shortfall they could chase me for the debt, however, what happens when there is a profit?

-- Stacey Shay (, June 27, 2000

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