Step 7 – Waiting 30 days

Once the court documents have been filed the mortgagor has 30 days in which to file and serve a defence.

Generally speaking there is no defence to not paying a mortgage. In the overwhelming majority of cases if things get this far, which is rare, the statement of claim being served will prompt the owner of the property to make contact and hand over the keys or put the property on the market. When this happens orders for possession are entered by consent (agreement by both parties).

If the borrower does want to sell the property themselves (at this late stage) it should be agreed to only on the basis that your lawyers supervise the process. This is done by appointing the real estate agent jointly and on the basis that if the borrower misbehaves during the process we (under instructions from you) will step and continue the marketing campaign through to sale.