Repossessions & Evictions

Joe_Bloggs

You should not have access to one of these courts as just a bystander. According to the shelter information these sessions are held in the judges chambers or held in a private session in a court room. Moral support, legal and financial expertise for the defendant is allowed. Perhaps if the cases were argued better and the nature of the petitioner pointed out, then more time would be allowed to put the financial affairs of the defendant in order.

What solutions are proposed to reduce reposessions and/or to reduce the irresponsible or unfortunate build up of debt ?
J_B.

emmaHarris_2

What solutions are proposed to reduce reposessions and/or to reduce the irresponsible or unfortunate build up of debt ?

This is an excellent question!

emmaHarris_2

...then would there not be more reasons for the sub prime to provide exceptional over and above help in the future considering they lent the money to this typical group in the first place?

In most cases the borrower is able to produce and income/expenditure plan...in sub prime not so. No Mortgage Advisors!

In some BS's & Banks now they employ mortgage councillors...before it gets to the stages of repossession and courts... not so in sub prime

There are some methods being introduced to reduce repossessions...not so in sub prime?

emmaHarris_2

What solutions are proposed to reduce reposessions and/or to reduce the irresponsible or unfortunate build up of debt ?

Maybe Mr Prescott had other more important things on his mind than deal with the high rise in home repossessions?

emmaHarris_2

is there an argument that brokers and IFA's etc should be involved throughout the process and be able to influence repossession rates? A total customer ownership proposition?

saver_sam

emmaHarris wrote:

In some BS's & Banks now they employ mortgage councillors...before it gets to the stages of repossession and courts... not so in sub prime

There are some methods being introduced to reduce repossessions...not so in sub prime?

The majority of the sub prime companies outsource their mortgage councilling at the arrears stage to independent companies who then give it to their self employed counsellors. so the customers do get the chance to see someone before it gets to the repo and court stage.

emmaHarris_2

saver_sam wrote:

The majority of the sub prime companies outsource their mortgage councilling at the arrears stage to independent companies who then give it to their self employed counsellors. so the customers do get the chance to see someone before it gets to the repo and court stage.

Can you give us an example of this?

saver_sam

Joe_Bloggs wrote:

You should not have access to one of these courts as just a bystander. According to the shelter information these sessions are held in the judges chambers or held in a private session in a court room. Moral support, legal and financial expertise for the defendant is allowed. Perhaps if the cases were argued better and the nature of the petitioner pointed out, then more time would be allowed to put the financial affairs of the defendant in order.
J_B.

You are correct that the majority are in private chambers; my husband often goes to court as well to represent the mortgage companies interests, and on occasion has helped a friend defend a repossession if need be. In fact since the beginning of the year its been a sad fact that he has just about been once a week to a court for these hearings, sometimes going for about 4 cases at a time.

Also the CAB are often at the court to offer support to the customer if they need it.

However there has been times when he has been on cases where he either saw the customer or they refused to see him for mortgage counselling and it has still gone this far. so they have had an opportunity to put their financial affairs in order.

saver_sam

emmaHarris wrote:

Can you give us an example of this?

Well he works for some of these independent companies and it has the name of the client on the paperwork that comes out so we know who are prime and subprime

Not sure how to give a better example really apart from he has to call on them (i.e. on their doorstep), get a reason for the arrears, go through their income and expenditure and see what they have left to put towards the arrears to get it cleared in a reasonable time period, putting this information back through the companies to pass onto the lender for them to consider.

emmaHarris_2

Another example in relation to the above posts would be where a borrower placed a 50 page report on a 'company' detailing that there were not what they seemed to be etc...gave this to the courts 2 weeks before the hearing and once they went through the 'green light' to enter the judges room, saw it sitting on his desk and when asked if he read it he said no but please give me a 5 minute summary of it....he rolled his eyes and would not look into their faces and when they explained that they were not even a lender or a proper mortgage company he just tutted and said enough is enough and 'sentenced' them to repossession in 28 days. They were in there for 8 minutes...the lenders solicitors (an intern they sent) was in there for 20 minutes, before and after!

After the ‘solicitor’s lacky’ had spoken to the borrowers they were allowed an audience with the judge before the borrowers were ‘green-lighted’ to enter!