[Gllug] NHS opt out

[t.clarke]

The Mortgagee doesn't actually 'get' the house upon default,  they get the right
to dispose of it to pay off the outstanding debt. Usually disposal is by auction
I believe,  and you (your estate) would get back any net surplus.
So if you have paid of 50% of the capital value of the house already you would
get back a fair proportion of that, depending on various factors.
The shitty part of this equation is that that seems to be no no absolute obligat
-ion for the mortgagee to obtain the best selling price and I imagine that
trying to take legal action against them for disposing at a rubbish price would
be rather tricky !

Tim
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