mortgage arrears!!!

emmao_3

Morning all
Have spoke to my mortgage lender about the situation we are in but they are not useful or sympathetic:o !We fell behind on our mortgage last december where a verbal agreement was set in place for us to overpay each month by £100 to clear 2 missed payments which total £1400!Unfortunately due to difficulty we could not meet the demand and paid what we can afford:o .Our lender demand us to pay the remainder of the outstanding agreement today but i dont have access to that sort of money:o . my wife gets paid monthly and usually pays our morygage where as i get paid weekly and pay our monthly household bills. I have offered to meet the demand by paying them weekly instalments until our next payment and the end of this month but they are not agreeing:o it will be tight but can allow for it! Shall i pay anyway and ignore ther refusal to discourage solicitor proceedings to avoid repossesion?

beecher

I think you need to make sure the mortgage and council tax are paid before any other household bills. If you post a SOA in the Debt Free Wannabee forum they can help you work out how to cut costs elsewhere - perhaps Sky, a car, mobile phones etc.

Hopefully someone else will be along to give you advice on what to do now about the arrears.

UK007BullDog

Well, you were given a year to sort yourself out and you broke the agreement by not complying.

There is not a lot you can do now as they will need to agree to it which could be quite difficult.

I think you need to see the CAB and as above suggested look on the debt wannabe board for more help there.

Are you on an interest only mortgage or repayment? You might ask to be placed on interest only for a while, but they might insist of you to pay up the arrears first stay on good payment terms for 3 months and then they might agree to it.

Have you got anything to sell, car, jewellery books on ebay or get a second job.