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

dancingfairy

Angie - hope you are o.k today. Got anything planned for the weekend? A nice walk/free museum - that sort of thing/chilling at home with the kids and hubbie?
df

willing2learn_3

Great idea, dancingfairy is right. When you are fighting battles must have time to recharge! :-)

Angiepange

dancingfairy wrote: »

Angie - hope you are o.k today. Got anything planned for the weekend? A nice walk/free museum - that sort of thing/chilling at home with the kids and hubbie?
df

willing2learn wrote: »

Great idea, dancingfairy is right. When you are fighting battles must have time to recharge! :-)

Aww thanks for asking after me, thats so kind!

Yes im trying to chill a bit this weekend, mind you being knee deep in the queue at Tesco's today probably wasn't the best way to achieve that but hoping to take a nice walk somewhere with DH and Dog shortly.

Just wanted to update the thread as I have some news from the solicitor.

immoral_angeluk

Really feel for you hun... mortgage rescue shortfalls are something I deal with quite regularly. I hope your solicitor manages to find a way around it for you. *hugs*

Angiepange

To cut a long story short my solicitor has approached the bank on our behalf explaining our reasons for not signing the shortfall agreement. My solicitor has advised us it is not in our best interests to accept liability (excuse me while I bang head on wall as that is what I have been saying to all parties for the last x months :cool:)

It has now been agreed between all parties that to find a solution to this issue, we fill in and sign the shortfall sale agreement. I will then post this to my solicitor who will amend the form, deleting any reference to shortfall liability. The form will then be scanned in and sent to us for our approval, before being sent to the bank!

We still dont know at this stage if they will want to go ahead with a valuation, but it looks likely, so I am seeing no end in sight yet with it all . But at least we have progress of sorts.

dancingfairy

Uh? Why do you have to sign the shortfall form for it to be sent to your solicitors to be re-jigges for you to sign it again? why can't your solicitor just re-jigg the shortfall form and THEN you sign it - I am concerned that you are still going to be accepting the shortfall if you sign the form in it's current state, alternatively why can't your solicitor just draft a letter for you to sign?
df

Angiepange

dancingfairy wrote: »

Uh? Why do you have to sign the shortfall form for it to be sent to your solicitors to be re-jigges for you to sign it again? why can't your solicitor just re-jigg the shortfall form and THEN you sign it - I am concerned that you are still going to be accepting the shortfall if you sign the form in it's current state, alternatively why can't your solicitor just draft a letter for you to sign?
df

Well, when she spoke to the bank, she gave 2 options requesting how to move forward, 1) an amended shortfall form or 2) an appropriately worded letter. The banks response to her request was "sounds like a solution to us" (not really making things alot clearer).

So her advice to us was fill in the agreement form, when she has the original we have signed she will re-jig and return to us for our approval.

I can see what you are saying df, and after mulling it all over yesterday, we also cant see why a drafted letter would just not suffice. Im thinking it just could be the banks system in place and to them the form is the only thing they will accept for their records, but I am just surmising here, so I have been guided by the solicitor and what she has asked us to do?!!

Interestingly the bank want copies of our BR order too, so wondering why that has just surfaced in all this, despite them having it on record anyway.

Any more thoughts much appreciated.

Angiepange

Right, spent the whole weekend mulling ove the latest and as we are still not happy putting our signatures to the shortfall sale form (even if it will be amended by the solicitor) I have now composed our own letter to the bank, acknowledging the sale as a full and final settlement.

I have forwarded a copy to the solicitor just to get her approval and then if alls well, it will be posted to her along with our BR orders and Discharge letters.

Then the ball is in their court. I am premusing they will either decide to still go ahead with a valuation or agree to complete. Lets hope its the final hurdle over with :cool:.

Reading back through this thread I was so naive 2 months ago when I had the phone call from the LA saying the bank had agreed to a full and final settlement. I really believed that was it and it would be plain sailing to completion. So to find myself here, another 2 months on is just so frustrating. In fact, I am now over a year down the line since I first looked to apply for mortgage rescue.

Sunnylooloo

Hi hun!

Sending you lots of supportive hugs!!

x

dancingfairy

I definitely think your own letter is the way to go (although why the solicitor can't do it I don't know). I do however think there is too much to go wrong if you sign the shortfall agreement - perhaps the solicitor forwards it to the bank accidently or something? Also after you've signed it you've nothing to say the solicitor they will/won't alter it in the way you want/expect. O.K - perhaps a little cautious but after everything you've been through...
Any progress on the MP/paper/head of local governement/anybody who's anybody front? Much as I would like to be optimistic it might take these people a while to get up to speed so you might want to approach them now? It also might have the added incentive of moving the mortgage company along if they know someone important is involved.
df