Mortgage Arrears Help Guide Discussion Area

Holmstreau

juneandon wrote: »

I am an advisor in a local authority. In my limited experience there seems to me very few scenarios when repossession is necessary. The lenders are complaining that borrowers are not engaging and contacting them. If contact is made I am convinced that the vast majority of problems can be resolved. The lenders dont want to repossess, not because they care but because they cant sell the houses they take back. IF YOU ARE IN ARREARS - CONTACT YOUR LENDER AND/OR LOCAL AUTHORITY. If this is done there are so many ways to avoid legal action so repossession is really not necessary.

I wrote to my lender advising them of being unable to make the payment due at the end of December 2010, I wrote again in January to advise I was selling up because I couldn't pay again. In February I received a letter from them saying I was in arrears and they hadn't heard from me. I sent copies of my two previous letters and again advised I would clear the arrears when the property was sold, in March they wrote again saying they still hadn't heard from me!
I wrote again and sent a cheque payment for 1.25 months payments, again telling them of the problems and my plans. In April they wrote again saying they still hadn't heard from me and would be appointing a Receiver if I didn't clear the arrears by the end of the month. I called them but they said they hadn't received any of my letters (despite cashing my cheque) and dismissed my attempts to set up a payment plan which would have brought the arrears up to date by the end of July. I sent a further letter (with a further cheque) earlier this month asking why they were being so harsh. They have now appointed a Receiver. The arrears will be £1,106.00 at the end of May. Are they being unreasonable or just incompetent?

bellissimo1

This is a bit of a long winded one, but here goes. My husband lost his job last Sept & we completed a MI12 form for help with our mortgage payments. We were constantly in contact with our mortgage lender, however we did get our self into a bit of a state! We had asked them if we could go interest only for a while & at first they said no, but it wasnt until we were over £1000 in arrears they said yes. We also set up an arrangement to pay the monthly payment & also a small amount towards the rears. However since the start of August the DSS decided that they would pay my husbands Jobseekers Allowance direct to our lender! This value has now changed 2x and it does not come close to our monthly payment! We speak to our lender at least 2x per month just to give them an update & also to make a payment, however, this morning we received a letter from the litigation department. I tried to contact them immediately but they were closed. I then tried to contact the lender who told me they could not give me any more information as it had been passes to the legal department.

I wish we had never completed this MI12 form! :-( I originally thought that it was additional help towards the interst payments not just giving the JSA that we were already getting.

I am going to phone the litigation department on Monday - I am at work so dont know when as I am trying to keep my job to pay the mortgage.

Do you think that I should phone to DSS & tell them to stop these payments going direct.

Please help, I am at my wits end & dont know where to turn to next. I really feel like a failure. I am doing all it can to keep to the agreement that we set - but as the DSS are now involved it is all to pot & we now may loose our house.

Staffs_Mummy_2011

Our mortgage was previously with Future Mortgages who sold them on to Engage Credit... before this handover happened, my other half hadnt been paying the mortgage due to illness and to cut a long story short we had to go to court to fight to keep the house.

It was agreed in court that so long as we didnt miss any more payments, Future Mortgages would cap the arrears, add it on to the end of our mortgage and we'd get left alone. So we did this - but in the meantime, our details were transferred to Engage credit and we are STILL in arrears since all this happened in 2009.

They wont speak to me on the phone because the house is not in my name: its only in my other half's name who is not capable of speaking to them on the phone. I have put notes in correspondence asking them to cap the arrears like the court agreed before we were moved to Engage but still not had any joy.

Anyone got any ideas what else I could do? Ive considered approaching a solicitor as a last resort??

I was advised in 2010 that no one would consider us for a mortgage due to the arrears. Is that still the case? Frustrating because we have paid on time for the last 3 years and prior to the incident before, always paid on time. Just feel like Im stuck in a rut.

Amycakes

Please can anyone help me. I am in such a horrible situation and it seems there is no where to turn so I would be so grateful of any help big or small.
My husband is named on a mortgage with his ex wife and has been for 5 years, he has no legal interest in the property and has transferred the deeds to his ex wife(I know he was foolish but tried to help his ex by her not having to move and uproot his kids) so she owns th ehiuse outright but he is just on the mortgage. She has since got a new boyfriend and had 2 other children together and are currently living int his house. She is over £2000 in arrears and me and my husband are trying to set up our own business and each time she defaults on payment it affects his credit which after 5 years is awful. We have tried a change of parties but seeings as her boyfriend is on benefits and she's on maternity leave again they don't qualify to meet payments without my husbands name on it. Please can anyone help with anything they can think. It is causing so much stress to my family and me and my hspusband are on the brink of divorce as we can't take the stress

Gary123456790

Amycakes wrote: »

Please can anyone help me.

Hi,

You might get more help if you start your own thread here

http://forums.moneysavingexpert.com/forumdisplay.php?f=15

It may be possible to force a sale of the property your husband is on the mortgage for but may be difficult now since it looks like he no longer owns the property. I presume there was no equity so he didn't want anything out of it?

There are other threads where people are in a similar situation so try having a search, but it is a difficult one.

Best advice may be to book an appointment with a CAB advisor.

Best of luck.

Gary.

helpmum

Can anyone give me some advice. I am trying to help my brother out. He has a 2 year fixed mortgage with northen rock. He is now on his own as he has split with his partner. He is struggling to make ends meet. He has contacted northen rock and asked for help and they have said all they can do for him is let him miss 3 payments and then they will start court proceedings and reposses his house. He really does not want this. He has asked for them to switch to interest only for a bit they said no then advised him to cancel his d/d then it will register a missed payment and then they may be able to help him. I am really not sure about this (but he has done it). He will not tell them he has split with his partner as he thinks this will default his mortgage but this is also giving him a higher expenditure figure so they keep saying he has enough money to pay the mortgage. If anyone is in a similar situation or delt with northen rock that could give us some advice i would be very grateful. thanks

Thrugelmir

Better to face the reality of the situation than attempt to deceive. If your brother is unable to afford the mortgage by himself. Then sell the property.

The mortgage is still in joint names. This will need to be addressed. As the ex may have no wish to remain on it.

se0303

Essence of my position is: Nationwide agreed, when I was made redundant in March 2011, to reduced monthly payments of £400 instead of £650 on my mortgage account (interest only figure is c. £360). £2,500 of underpayments built up over the 13 months it took to secure a new job.

This is being repaid at an agreed rate of mortgage + £100 a month. Out of the blue, I have received a demand for the remaining arrears (£2,100), with a warning that they will start repossession procedures unless they are paid immediately. I do not have that sum spare, as they well understand. The property is in considerable negative equity (c.£25K), so repossession would be in absolutely no one's best interests. It would leave me bankrupt and them seriously out of pocket.

The correspondence is ridiculous, accusing me, among other things, of ignoring their attempts to contact me (there's a long paper trail, letters and emails, detailing the arrangements). I have written to them asking what is going on, but instead of responding to my specific points, they sent a "final warning" instead.

Why on earth would they suddenly change their minds about a repayment plan and decide on this course? I really have no idea what to do next; I presume there will be a preliminary court hearing. Would it be reasonable to assume, given Nationwide's arbitrary behaviour, that I'd get a fair and sympathetic hearing?

mmm63

Hi i separated from my wife couple years ago and i was left paying mortgage ... i have now sent keys back to mortgage company and walked away ..
what will happen now ? i left about two months ago

kingstreet

They will sell the property, obtaining the best price they can for it. Any surplus will be paid to the owners, any shortfall will be required from the owners.

They will write confirming the position, if they have a current address for the borrowers.

A payment arrangement may be agreed if any shortfall cannot be paid immediately.