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

IF

Hi Angie, I'm so pleased and it couldn't happen to a nicer person. What you have had to put up with over these last years has been incredible and anyone else would of buckled. I'm proud to be one of your friends x :A

All my love
If...x

IF

Hi NellieNewbie, please forgive me for not replying to your post. Got my fingers crossed all goes well and your husband finds another job very soon xxx

Love
If...x

Florence22

Angiepange wrote: »

Just thought I would re-visit this thread for old time sake I am wondering how any of the people who went through the mortgage rescue scheme are doing now?

Posters who experienced the MRS and others who just posted for support, will never know how much they helped me keep fighting and plodding through. I don't care if it sounds cheesey! but I will always be grateful to MSE and the friends I made, for being the positive force and mine of information that got us through the bankruptcy and the MRS.

I never took up Martin Lewis's teams kind offer to publicise our fight through mortgage rescue on their news site, as I felt we were at a break through stage and was worried publicity may jeopardise the banks decision to complete. However, it was thanks to the forum, I gained so much information that carried me through the whole process.

We have been slowly re-building our lives since going BR in 2009 and then fighting for 13 months to stay in our home through the Mortgage Rescue Scheme, finally completing in 2010.

One of the main turnarounds for me was finding employment in June 2011 having struggled for so long on just my husbands income. I got back my self respect and confidence which had been at an all time low since redundancy and other problems triggered our financial downfall.

Our children faced their own demons, during that time. Our son was only 17 when diagnosed with depression, right in the middle of the BR and the threat of repossesion. Our daughter nearly 15 at the time, who had always been such a strong, happy, confident child, was being severely bullied at school. Bullied to the point of self harm, where she felt completely worthless and all but gave up with education.

Now, we are all in a much more positive place. Still in our family home, no longer 'own it' of course, but rent it from a Local Housing association which has been very smooth and problem free. Both of us are in full time employment and managing financially. Our daughter has gone from strength to strength once the bullying was revealed and dealt with. Our son has just come off medication, has a new relationship and is finally embracing life as a teenager should.

Just want to say Thank You xxxxx

Angie what an incredible story, I put down my BR forms about 3 hours ago and read straight through, it was like hurtling along on a train without breathing. How happy I am for you that your children are good now, how on earth did you get through it all and still take the time to encourage and support others?
Maybe you should pull it all together, write it up and sell the film rights - you'd make a well-deserved fortune!

You are an inspiration and I hope your future is a truly happy and healthy one :beer:
With love to you,
Flo

Florence22

NellieNewbie wrote: »

Great to hear how things are for you Angie {{{HUGS}}}

I'd been thinking about posting an update too, so your message is a well timed reminder.

We completed on 4th March 2011 and even though no major work was needed, we are still not done. Our house is now owned by the Orbit Group and it has a special team and processes for MRS tenants, separate to its other tenants in its three housing associations in the UK.

The first sniff we had that the works were going to start was some surveys/testing in July and then nothing happened until September. We didn't chase things because I wasn't very well. On and off since then, we've had little flurries of workmen doing things. Sometimes the work caused problems (leaks, etc.) that meant other work needed doing. Most of the workmen have been fantastic and the quality of work is excellent. We do have a project manager who works for Lakers, the property service company contacted to handle MRS tenants. He is lovely, although I have to chase him all the time - and that's been our main problem. It there is a plan of works for our property then I'm a leprechaun! Workmen have turned up unannounced and twice I've had to turn them away because I was due at the hospital. Sometimes I'd get a phone call the night before someone was coming. It's a good job I'm at home during the day because if I was at work, I'd be screaming blue murder by now about the lack of organisation. On the other hand we always knew the work would take longer than allocated because in all seriousness, nothing has ever been straight forward about our house since we bought it! At one point I thought the electricians were going to walk off the job because a two day job turned out to be a horrible 8 days for them (and me because working on the electrics meant no heating in December!). Bless them!

We can now just about see the light at the end of the tunnel and with a bit of luck the final works will be done over the next couple of weeks. I hope so any way because we've had a letter from the Orbit Group telling us our house is to be sold to Orbit Heart of England, with a planned completion date of 1st Feb 2012.

Financially we are just about managing, but my husband will be made redundant at the end of June as his job will go as part of the Government's NHS cuts, so we need to be able to focus on finding him another job.

One day at a time.

I read through all of your posts too Nellie - another courageous Lady :T

I hope the work gets finished quickly and you have a nice comfy safe home to be happy in.

Fingers crossed things work out for your Husband and he finds a job quickly.
Love to you too

NellieNewbie

Thank you for your good wishes peeps {{{HUGS}}}, it really does feel like you are running a marathon with MRS.

I think what bothers me more than anything else is that people who are less able than, say me or Angie, are missing out on this scheme. I say this not just because it is not publicised well enough, but because when there is a problem they are not able to find their way around the maze of dealing with all the necessary bodies and organisations.

Just after the present government came to power, it disbanded the central MRS Fast Track Team and I believe that was a bad move. The staff on that team had the most expertise about the MRS, so local authorities where dropped right in in after that.

Reports say there will have been up to 40,000 repossessions in 2011, but since the MRS started in January 2009 there have been less that 3500 successful cases. Over the same period local authorities have given advice on mortgage difficulties to more than 40,000 people. I just don't believe that so many people do not qualify for MRS.

We were not facing imminent repossession i.e. repossession action had not been started, but our circumstances meant that repossession would be inevitable. I think other people in similar circumstances are missing out, because nobody is advising them to purse MRS as a way of staying in their own homes.

If I didn't have a good understanding of the scheme, we would have just accepted the letter saying we didn't qualify and moved on.

How many others have been in that situation?

My heart goes out to anyone going through the MRS at the moment. Hang in there. {{{HUGS}}}

sillygirl73

Being spurred on by Angiepane's update, I just thought I'd update as well!
The last post I made was about an offer being made on our house which was being sold with the help of our mortgage lender on their AVS scheme......well, that offer turned out to be bogus, and now 9 months later we have finally sold our house:). It is for alot less than asking but at least it has been sold. For those of you unfamiliar with my story, we had originally been referred for the MRS and went through nearly a year in the system but ended up being told that we were not eligable. At the time was furious but now actually very glad that it did not happen.........I have since had another baby:D and we would have really struggled in our tiny 1.5 bedroom terraced house. Baby not planned as we were told that could not have children (1st conceived after numerous IVF treatments), so a very happy surprise!
Throughout, we have just communicated with the estate agent nominated by the bank, and she has liased with the bank on our behalf and has always championed us. Other than an annual statement we have had no communication or harrassment from the bank which considering we stopped paying the mortgage a year ago has been amazing!
We will have a shortfall but as we are now ready to declare BR (finally) that does not really concern me.

So, we now live in a lovely 3 bedroom rental property, with huge garden, and are a family of 4, a gorgeous 2 year old boy and a 4 month old beautiful girl! Our landlord is very laid back, and as long as we pay our rent on time is not concerned with our financial situation. In fact, he has just paid the letting agent for a new 12 months contract for us which gives me some security, as my concern about renting is the potential short term nature of it. We are still living very frugally but so far have managed, things can only get better financially now:)

The AVS scheme has been fantastic for us as we have incurred no costs when selling the house as all fees are paid for by the lender:). I know how frustrating the MR process can be so just wanted to share my story highlighting an alternative solution.

Angie, I am so glad that things have settled for you now, you had such a long battle that you deserve all the happiness now:A. Thank you for your support whilst I was tearing my hair out last year!

Nellie, it's fab that things have worked out for you too, so glad it worked for you and I agree that so many more people should be able to benefit from the MRS.....I hope your husband finds another job soon and that it becomes less of a struggle financially.

I am now in the process of organising a court date and filling out BR forms, so onwards and upwards!

seven-day-weekend

Angiepange wrote: »

Just had a phonecall from my solicitor asking if we had any objections to completion going ahead today :j

After the past 13 months of trying to get to this day, it was quite funny to be asked that but I assured her that we are 100% ready for completion to go ahead :T

So, thats the end of my journey really with the Mortgage Rescue Scheme. We are now officially tenants of a housing association, renting a house we once fell in love with and bought as a home for the kids to grow up in. The only reason we sold our first home to buy this place was because it was a 2 bed house and as we have a son and daughter we needed the extra bedroom. But I remember the day well, so excited to have all the space and new surroundings. That was over 8 years ago now.

So I am sitting here with very mixed emotions, sad our lives took a turn for the worse that they did, but overjoyed we still have a roof over our head and security for our children for the next 3 years at least, thanks to the Mortgage Rescue Scheme.

For anyone looking in, as I know my thread is very long to read, I thought I would explain why I am here today.

Going back 2 years, we were just an average family, both of us working full time, 2 teenagers to raise (not forgetting the dog:p). We had debts which had accrued over the years, like many people do, due to many reasons..... job changes, emergencies, re-training, financing cars, falling back on the credit cards when the kids were little and only one of us was working, stuck in high interest rate agreements where the debts just got bigger no matter how much we paid off them, credit thrown at us day in day out........... many many reasons. But, we could always meet all our payments, no matter what. Although looking back now alarm bells should have started ringing, we should have sought proper debt advice, looked at ways of managing our income better, not just gone down the road of consolidation and constantly moving debt from one provider to another, always looking for cheaper interest rates/better deals.

Then I can remember the day my husband rang me from work. October 2008. They are making redundancies here, its not looking good There followed 2 months of consultations. 2 weeks before Xmas, while he was on the road working, they phoned him to say he was one of 15 people they were making redundant. Our world came crashing down.

The next 4 months passed in a blur. I tried to keep going, tried to keep it all together, my job was stressful to say the least and the pressure and worry over money and paying everything just built up and up. Luckily my husband only had 1 month of unemployment (the only time in his whole life he has never worked) but he was treated dismally by the jobcentre, like he was a nobody, something on the bottom of someones shoe. I hate them for that.

He took the first job that came along, much less money, more travelling, horrendous shifts and then spent 3 months of hell, starting work at 2am and getting home at 7pm if he was lucky, to catch 4 hours sleep before it all started again. He lost over 2 stone in weight and his health really suffered. Meanwhile, I was coping less and less well in my job. I should have approached my Doctor, maybe had sone time off to sort myself out, but sick time was always so frowned upon and my boss wasn't the easiest person to work with. Under pressure to increase our income, I handed my notice in to start something else and that week I basically broke down. I didn't leave the house for weeks and if it wasn't for my husband caring for me and the kids like he did, I dread to think what would have happened.

Shortly after this a neighbour (also ex forces) had heard of a job going in the local Council and thought of my husband. What a godsend. They knew he was a good worker, respected his army background and basically recommended him for an interview. He got the job, passed all the training, fantastic. The only downside salary (nearly half what he used to earn).

So with the loss of my income and a much lesser wage for my DH, we were in dire straits. Then followed 4 months of seeking professional advice, looking at all our options, we needed help, didnt know who to turn to. Then came the blow, Bankruptcy is your best solution we were told. In August 2009 we petitioned our BR. We really were at rock bottom.

We knew we couldnt maintain the mortage much longer, the income just wasn't there any more. The bank would only give us 3 months respite, and then wanted any arrears paid back on top of the normal payment. Thats all they would do to help. I began to search for an answer. Do we move out now? Do we wait until we are repossessed? I was desperate. Thats when I saw details about the Mortgage Rescue Scheme. The rest as they say is history, all detailed in my diary here! And what a journey its been. 13 months of ups and downs and then more downs!!!!! But I have kept going despite all the setbacks and with fantastic support from people on MSE.

We are now tenants, our house has been sold to the Housing Association. They paid 97% of its market value to the mortgage company who also received a payment from the Council Repossession Prevention Fund towards the shortfall. The mortgage co accepted this as full and final settlement. We have been given a 3 Year Assured Shorthold Tenancy and our rent has been set at 80% open market value. The next step now is building works to be carried out that the HA have planned for the house, so I am waiting for contractors to get in touch.

Apologies for my long post, sometimes when you start it just all spills out , but again, thanks for all the help and advice.

Thanks everyone :T:T:A:A

Just read your thead up to this post. I don't normally come on this board. But just want to say how glad I am that your light at the end of the tunnel has finally started to shine. Wishing you well for the rest of your life.

marushkababy

Angiepange wrote: »

Just had a phonecall from my solicitor asking if we had any objections to completion going ahead today :j

After the past 13 months of trying to get to this day, it was quite funny to be asked that but I assured her that we are 100% ready for completion to go ahead :T

So, thats the end of my journey really with the Mortgage Rescue Scheme. We are now officially tenants of a housing association, renting a house we once fell in love with and bought as a home for the kids to grow up in. The only reason we sold our first home to buy this place was because it was a 2 bed house and as we have a son and daughter we needed the extra bedroom. But I remember the day well, so excited to have all the space and new surroundings. That was over 8 years ago now.

So I am sitting here with very mixed emotions, sad our lives took a turn for the worse that they did, but overjoyed we still have a roof over our head and security for our children for the next 3 years at least, thanks to the Mortgage Rescue Scheme.

For anyone looking in, as I know my thread is very long to read, I thought I would explain why I am here today.

Going back 2 years, we were just an average family, both of us working full time, 2 teenagers to raise (not forgetting the dog:p). We had debts which had accrued over the years, like many people do, due to many reasons..... job changes, emergencies, re-training, financing cars, falling back on the credit cards when the kids were little and only one of us was working, stuck in high interest rate agreements where the debts just got bigger no matter how much we paid off them, credit thrown at us day in day out........... many many reasons. But, we could always meet all our payments, no matter what. Although looking back now alarm bells should have started ringing, we should have sought proper debt advice, looked at ways of managing our income better, not just gone down the road of consolidation and constantly moving debt from one provider to another, always looking for cheaper interest rates/better deals.

Then I can remember the day my husband rang me from work. October 2008. They are making redundancies here, its not looking good There followed 2 months of consultations. 2 weeks before Xmas, while he was on the road working, they phoned him to say he was one of 15 people they were making redundant. Our world came crashing down.

The next 4 months passed in a blur. I tried to keep going, tried to keep it all together, my job was stressful to say the least and the pressure and worry over money and paying everything just built up and up. Luckily my husband only had 1 month of unemployment (the only time in his whole life he has never worked) but he was treated dismally by the jobcentre, like he was a nobody, something on the bottom of someones shoe. I hate them for that.

He took the first job that came along, much less money, more travelling, horrendous shifts and then spent 3 months of hell, starting work at 2am and getting home at 7pm if he was lucky, to catch 4 hours sleep before it all started again. He lost over 2 stone in weight and his health really suffered. Meanwhile, I was coping less and less well in my job. I should have approached my Doctor, maybe had sone time off to sort myself out, but sick time was always so frowned upon and my boss wasn't the easiest person to work with. Under pressure to increase our income, I handed my notice in to start something else and that week I basically broke down. I didn't leave the house for weeks and if it wasn't for my husband caring for me and the kids like he did, I dread to think what would have happened.

Shortly after this a neighbour (also ex forces) had heard of a job going in the local Council and thought of my husband. What a godsend. They knew he was a good worker, respected his army background and basically recommended him for an interview. He got the job, passed all the training, fantastic. The only downside salary (nearly half what he used to earn).

So with the loss of my income and a much lesser wage for my DH, we were in dire straits. Then followed 4 months of seeking professional advice, looking at all our options, we needed help, didnt know who to turn to. Then came the blow, Bankruptcy is your best solution we were told. In August 2009 we petitioned our BR. We really were at rock bottom.

We knew we couldnt maintain the mortage much longer, the income just wasn't there any more. The bank would only give us 3 months respite, and then wanted any arrears paid back on top of the normal payment. Thats all they would do to help. I began to search for an answer. Do we move out now? Do we wait until we are repossessed? I was desperate. Thats when I saw details about the Mortgage Rescue Scheme. The rest as they say is history, all detailed in my diary here! And what a journey its been. 13 months of ups and downs and then more downs!!!!! But I have kept going despite all the setbacks and with fantastic support from people on MSE.

We are now tenants, our house has been sold to the Housing Association. They paid 97% of its market value to the mortgage company who also received a payment from the Council Repossession Prevention Fund towards the shortfall. The mortgage co accepted this as full and final settlement. We have been given a 3 Year Assured Shorthold Tenancy and our rent has been set at 80% open market value. The next step now is building works to be carried out that the HA have planned for the house, so I am waiting for contractors to get in touch.

Apologies for my long post, sometimes when you start it just all spills out , but again, thanks for all the help and advice.

Thanks everyone :T:T:A:A

Hi Angie

I was looking for someone who had been through the MRS as we have our appointment in two weeks with the CAB. I came across this and can I just say, thank you for being so open and transparent about your experiences. Reading all of the posts has really spurred me on and it has shown me there is life after bankruptcy and repossession. Thank you again xxxx

Angiepange

THANKYOU SO MUCH for the kind messages everyone :A. Sorry it's taken so long to reply!!

Maizy, thank you hun, hope all is going well for you and your family xx

NellieNewbie, so glad you are coming through it all, I know how tough it's all been. I just hope your DH finds work quickly, got everything crossed for him. xx

If...what can I say Love ya :Axx

Flo, thank you for your lovely message. Im nothing special honestly!:o I got through it thanks to MSE :T and the people who posted with help, advice and support xx

Sillygirl73, I am over the moon to read how settled you are now in your new place, it sounds idyllic. And a new daughter :j CONGRATULATIONS. I know you have the BR coming up, hopefully it will draw a line under all the struggles and stress you have had. Thinking of you xx

seven-day-weekend, thank you for your kind words xx

marushkababy, thank you and good luck with your upcoming appointment. If I can help in any way with the MRS feel free to PM me. I have to be honest, Im not too up to date with current developments in the scheme. In fact Im not sure what areas it is being offered in now. However there are many professionals who contributed to this thread with info, so Im sure if you just ask, someone will know Good luck xx

marushkababy

Hi Angie

Could you tell me how to private message you from here. I don't usually come on here but this thread has been a lifesaver for me and I could really use a friend who has been through this as I am completely stressed.

I had my appointment last Friday with CAB. OH wasn't able to make it as he was at work. The lady there did our incomings/outgoings and knew straight away we couldn't afford our mortgage. She has now passed all our info onto the MRS department at the council and the lady dealing with it at the council has said she will be passing all our info onto the housing association who will begin by doing the valuation.

Today we received a letter from our mortgage company solicitors informing us they will be issuing a court date soon. That stressed me out quite a lot. I would just like to ask, how long does it usually take for the valuation to be done? How long has it taken some of you on here for this to be carried out? Any information would be appreciated. Just to know we are not the only ones (although I wouldn't wish this on my worst enemy) going through this does help me. xxxx