Could someone give me some advice on how to begin with this question??
Thank you in advance
Alan lent money to Bill. The loan was secured over property owned by Bill. Bill is now in arrears with the repayments. The value of Bill’s property is currently only slightly greater than the outstanding loan.
Advise Alan on the most suitable remedies in the following scenarios:
(a)The property is Bill’s home;
(b)The property is a tenanted office block; and
(c)The property is a holiday home that Alan would like to own himself.
Find out how.