Govt Mortgage to Rent Scheme/Will it save my house?

Angiepange

I have now received contact from my solicitor regarding completion.

The HA have changed their policy recently and now require 4 weeks rent in advance. The solicitor is now requesting this money from us in order to complete.

Thats fine, luckily I have it put to one side, but I have asked the solicitor for written comfirmation from the Mortgage lender of their decision to accept a full and final settlement before I forward the funds. I want to see it in black and white and be 100% certain there will will be no future comeback on us for shortfall liability.

The solicitor has been great and understanding of my request, so I am waiting for them to get back to me. Its so close now

Angiepange

debtinfo wrote: »

Good news angie

I think if you looked up persistence in the dictionary there would be a picture of you next to it

:rotfl::rotfl::rotfl:now this did make me laugh !!

Thanks debtinfo

Angiepange

:mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::(:(:(:(:(:(:(:(:(:(:(

Just when I thought we are near completion on our mortgage rescue I receive an email from the Housing Association today. If anyone remembers I had asked to see official confirmation from the mortgage co that they are accepting the offer as full and final. We have had nothing in writing and I was apprehensive to forward the rent fees until I had seen this in writing.

It now turns out the mortgage lender is still insisting we sign the shortfall liability sale form before they will remove their charge on our house and allow the rescue to complete and they say they cannot send us a confirmation letter re full and final until they have received the shortfall liability form signed!!!!! And they are now giving us a deadline to do this by or they may re-assess and not be able to accept a full and final settlement :(:mad::mad:

I am now angry and upset beyond belief.

What do we do? Sign the form and hope they are being true to their word and will be accepting the offer on the house as full and final?

Can anyone help me? Im so desperate now. I have tried ringing the mortgage co but office is shut, so I have emailed the relevant person and left a message on their ansaphone. I have also sent emails to my solicitor to see how we stand legally if we sign the form and they then go back on their word.

I am so upset I cant think straight. Sorry if my post is jumbled but I cant believe this is happening now.

IF

Oh Angie.......I don't believe it, not again!! Big hugs to you both and hang on in there sweetheart!! :A

Angiepange

I know If Im just so shocked after everything we have been told they still want us to sign this shortfall sale form. If we sign it this is what we are agreeing to:

'We understand that we remain responsible for any shortfall incurred on the sale including all associated costs as detailed in the criteria/conditions of the shortfall package and that interest will continue to be charged in accordance with the terms of the mortgage clauses.' etc etc

The criteria states:

All borrowers will remain responsible for the balance of the mortgage remaining after the sale. Once the sale completes, a statement will be sent to all borrowers and a rep of ........will contact you to make arrangements to discuss your proposals to clear the shortfall.


I know that if we sign our Bankruptcy becomes irrelevant. The debt will be a new debt created post BR that we have signed and accepted So what on earth are we supposed to do? Do we trust the fact that they will agree it as a full and final settlement, even though they are not willing to provide us with official confirmation until we have signed? :mad::(

Just when I thought this nightmare was nearly over. Maybe we should let the house go now, I cant fight this anymore. :(

Angiepange

Right after spending another whole weekend worrying about the lateast setback with our mortgage rescue and feeling as though there is no one out there to help us or who seems remotely interested in pushing this scheme to completion, I feel the only course of action left to me is to contact our MP and the Head of Local Communitiies and Govt about our plight.

I will speak to my solicitor and the Mortgage Co tomorrow, they will have received my emails by then. I want to know why I was told by the HA that the mortgage co have agreed the offer as full and final settlement, but when the mortgage co is asked to give us official confirmation of this, they WONT give it until we have signed the shortfall sale form?????? Once we sign the form, in the event of them going back on their word or another unforseen problem and we end up repossessed, then we are making ourselves LIABLE for the shortfall and the BR is irrelevant.

They have us over a barrel. And I want people to know this scheme is so flawed. I want them to know they will be putting a family who fell onto bad times through no fault of their own on the streets. A family who have nearly collapsed under the stress of the last year, and who have been put through hell, living with the uncertainty and fear of whether they will have a roof over their heads, how long they might have left in the house before bailiffs arrive, where and even if they will be re- housed when evicted, if they will be split up and put into temporary accommodation, how they will store their belongings, what will happen to their beloved family dog, riddled with arthritis and unable to be re-homed????????

A family who put their trust in the Govt mortgage rescue scheme which was set up to prevent vulnerable families losing their homes, a family who have been passed from pillar to post by officials involved, have been pressured into signing shortfall sale forms making them liable for thousands of pounds when the house is sold at auction that they cant afford to pay. A family who have gone through the hell of bankruptcy and all that involves to be told, just sign the form, you can pay the debt back for the next 40 years. It stinks.

tigerfeet2006

Oh! Angie, I am so sorry that they are being such a$$holes to you.

(((hugs)))

I am so pleased though you are still fighting and you make me proud to 'know' you. You are an amazing lady.

So_Sad_Angel

Hi Angie (twin) ....stay strong Honey....you have been through so much & by highlighting this issue you can make a difference to this scheme so that it doesn`t happen to others.

Definately get your MP involved....in fact lobby any MP who has an interest in the scheme...& Watchdog, Panarama etc You haven`t come this far to be beaten Hun.

Anything I can do then shout up...even if it is just a chat by PM....keep smiling.

Angiexx ( your twin LOL)

IF

Hi Angie, I knew you wouldn't just accept all this carp they are throwing at you!! You go girl :A

debtinfo

Hi angie, i know it is not easy but you must remain strong, You must not sign the form, the only possible reason they can have for you to sign the form is to try and collect from you in the future. If they were really accepting the full and final there would be no shortfall to collect and therefore no reason to sign the form. You are giving them every opportunity to get the best price and the lowest loss to themselves you cannot give them any more than that