12 year rule

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having justtalked to a solicitor i am now confused, when does the 12year rule start 1)second missed payment of a mortgage 2)when the property has been sold anybody got a definte answer to this question or know of any cases that can be proved

-- keith (ariespc@lineone.net), June 17, 2003



This question has been extensively covered already in previous postings, see my posting entitled "Mortgage Shortfall Limitation -12 years or 6 years ?" on August 2nd 2002. The 12 years usually starts from the 2nd or 3rd missed mortgage payment (Bristol & West v Bartlett), but you need to check the terms and conditions of your mortgage to be sure, in some cases it could be the 1st missed payment for example.


-- M Amos (idgroms@hotmail.com), June 17, 2003.

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