Mortgage arrears post BR

sxj

Hi all
Just a quick question. Declared BR 5/11/08
Had my OR telephone interview & all went really well :j
However my problem is that i can't find a job, especially one that would cover my basic living costs... Mort, bills & car etc...
I may have to leave my house either by choice or repo. I may have to stop paying my mortgage & i know this will end up in repo.
Therefore my question relates to wether my mortgage lender would have grounds to chase me for any mortgage arrears built up between post BR & repo? - I've heard of people offering volentary repo, is it that because they would be liable for payments between BR & Repo??? Or would those missed payments be included in with the BR?

Thanks in advance.
Steve

maxmycardagain

arrears and shortfalls are included in your BR, let em go for possesion then eviction (can take 6 months), save the money and go rent a place

sxj

Included even though i've already gone BR. No arrears at moment...
Sorry for the daft question. The only reason i ask is that the OR ordered me to stop using the mobile as i wanted the outstanding contract to be included within the BR. The same principle could be applied to house albeit very different... Sorry paranoid mind working overdrive :rotfl:

maxmycardagain

if you dont wish to keep the house tell your lender youve gone BR, in writing.

let them make the next move

you could also ask about voluntary repo, handing in the keys

peachyprice

As long as the house is repossessed the arrears will go into your BR, so no worries.

if you dont wish to keep the house tell your lender youve gone BR, in writing.
let them make the next move

I'm not sure what Max means by this. If you write to them and tell then you're BR they won't do anything, as being BR makes no difference to a mortgage.

sxj

Thanks peachyprice....
Really not want that to happen but can't believe how difficult it is to get a job!!! Things must be really bad out there.....
Might try my luck with a lucky dip tonight!