Can I get back my house after being repossesed??

nixinix

Haven't read all the posts. But had to post my response.

My dad had his house repossessed in 2003. We spoke directly to his banch manager and agreed to clear the arrears, I took over the monthly repayments and we got the keys back from the estate agents. There were costs invoved which we also had to pay. Nothing was negotiable - we had to bring the mortgage up to date and then I had to prove that I could afford to make the repayments. But by doing exactly as they said we got the keys back the same day. The house had not yet gone on the market but the keys were at the estate agents - we had to go there to collect them. We then had all the costs of sorting out everything the baliffs had done.

So I think if you can deal direct with the person with enough authority and you can clear you arrears, and prove you can then continue with payments you can have a chance of getting your house back - we did. Good luck.

mr.broderick

nixinix wrote: »

Haven't read all the posts. But had to post my response.

My dad had his house repossessed in 2003. We spoke directly to his banch manager and agreed to clear the arrears, I took over the monthly repayments and we got the keys back from the estate agents. There were costs invoved which we also had to pay. Nothing was negotiable - we had to bring the mortgage up to date and then I had to prove that I could afford to make the repayments. But by doing exactly as they said we got the keys back the same day. The house had not yet gone on the market but the keys were at the estate agents - we had to go there to collect them. We then had all the costs of sorting out everything the baliffs had done.

So I think if you can deal direct with the person with enough authority and you can clear you arrears, and prove you can then continue with payments you can have a chance of getting your house back - we did. Good luck.

It is why i asked who the lender was, as jim kerr said once "Everything is possible in the game of life"

mr.broderick

PasturesNew wrote: »

You can't buy it because because you have a poor credit history, you still owe them £XXX,000 (and growing every time the price drops) and you don't have a deposit.

CLosest you can get to it is get somebody to buy it for you and rent it back to you , with an agreement that at some future agreed point you can try to raise a mortgage to buy it back from them.

The only way to even TRY to get it back would be:
- pay them cash all the outstanding money
- pay them a further BIG chunk off the mortgage

So if you've had a big win on the gee gees, it might be worth it.

But, no.

I'm guessing he/she had a poor credit history before or had no proof of income and they got the money before, or has that kind of lending all gone now?:rolleyes:

PasturesNew

mr.broderick wrote: »

I'm guessing he/she had a poor credit history before or had no proof of income and they got the money before, or as that kind of lending all gone now?:rolleyes:

Mostly ... you'd have to be a super fraudster to pull any of that off now.

wageslave

Losing a home is one of the most dreadful things that can happen to someone and I understand your desperation to return there more than you will ever know.
But you have to let it go, it's time to move on.

mr.broderick

wageslave wrote: »

Losing a home is one of the most dreadful things that can happen to someone and I understand your desperation to return there more than you will ever know.
But you have to let it go, it's time to move on.

One day something will happen and you won't move on you may just fight for it.

nixinix

Should have added at the time I no longer lived at home with my dad but was living with my now husband in our house which fortunately was in his name only and I was working full time earning more than enough to cover the outstanding mortgage which was actually a very small amount. Proof of income for me was very important as was clearing all debts and bringing the account up to date - we used a bankers draft or we would have had to wait for it all to clear. Also the lender was a high street name with a local prescence.

Why-oh-Why_3

Exactly Mr B, Its all very well moving on, but if there is a chance to fight to keep something you love then why just walk past?

I have mentioned this is difficult and it may be impossible, as you can see in other comments some people have been fortunate to work round this and get there home back, I will not rule out this till I know I cant go back, only at that point will I move on....

Till then, keep the advice flowing.... Thank you all so much for your advice and comments x

wageslave

mr.broderick wrote: »

One day something will happen and you won't move on you may just fight for it.

Only fight the battles you can at least hope to win.
Life isn't kind to heroes.

nixinix

Good luck! Once we had 'un-repossessed' the house we still had to sell it to cover other debts but my dad is now happier than ever and the whole ordeal is behind him. I hope you reach a conclusion soon.