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What happens when you voluntarily surrender your house

I Want My House To Be Repossessed UK (Voluntary Repossession UK)

If you want your house to be repossessed and if you want to enter into a formal agreement with your mortgage lender for a voluntary surrender or repossession of your house, you need to think again. In a voluntary repossession you sign over the ownership of your home to your lender. Your lender will then sell your property and will pay off your debt from the proceeds they receive. But there could be a shortfall on your debt and this process will badly affect your credit report.

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