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Last part..........

I also think that there will be equity in the house (mortgage owing 212k,house value approx 255k in the current market.If the creditors agreed an F&F from my Mother's loan,could they still lay claim to any equity in month 54,or would the equity be safe as the offer would have been accepted?
Apologies for ramblimg on,I have asked a whole stack of questions,but would be extremely grateful for any words of wisdom.
Thanks for taking the time and trouble to read these posts.

Sorry to everyone reading this...........I sent my question in 3 parts,hope you piece it all together!!

A full and final means just that and there is no future comeback as the case is closed down. You may need to get a valuation and mortgage statement to prove the current equity situation but given your circumstances I doubt if creditors will be too interested.

I would certainly want to report the current equity position to your creditors if I were acting, so do expect as Michael says to need to get your property valued and produce a current mortgage redemption statement.

Ok will do,thank you for your advice,it is very much appreciated.