Could somebody please give insight as to what happens, in the following case where:
1) The debtors family home is in negative equity (both in terms of current market value and/or arrears).
2) The debtor remains in the family home on adjudication.
3) Debtor fails to make reasonable mortgage repayments for whatever reason (e.g. unsustainable).
4) The Official Assignee fails to dispose of the family home within the 3 year period post adjudication.
In the above scenario (which may not be uncommon), the debtor has been discharged from bankruptcy, however the family home will now be re-vested by the Official Assignee to the debtor, along with the outstanding mortgage?
1) The debtors family home is in negative equity (both in terms of current market value and/or arrears).
2) The debtor remains in the family home on adjudication.
3) Debtor fails to make reasonable mortgage repayments for whatever reason (e.g. unsustainable).
4) The Official Assignee fails to dispose of the family home within the 3 year period post adjudication.
In the above scenario (which may not be uncommon), the debtor has been discharged from bankruptcy, however the family home will now be re-vested by the Official Assignee to the debtor, along with the outstanding mortgage?