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House Advice
diddly74
Posts: 822 Forumite
Hi Guys
I need a bit of advice.
My Husband and I both went BR in March, and we moved out of our mortgaged home in June due to the fact even tho it was in neg equity we really couldn't afford the upkeep of it and to keep paying a £900 per month mortgage. - We had stopped paying the mortgage in March as we were advised to do.
The house has been empty now for nearly 4 full months and as yet I haven't handed the house back to the bank. I have gotten Cat C on it for council tax reasons at least. The Bank have yet to send us any repossession letters - apart from one last week saying we needed to pay all that we owed in full. We have told the OR we have not interest in keep in the house etc.
Should I send the keys back now, do I have to discuss this with the OR> As the house is technically not ours. Should I just wait for the bank to take this to court? There is no insurance on the property so I really would like to get rid if you know what I mean. I expected to be hearing re-possession noises from the bank by now.
Your advice will be much appreciated.
I need a bit of advice.
My Husband and I both went BR in March, and we moved out of our mortgaged home in June due to the fact even tho it was in neg equity we really couldn't afford the upkeep of it and to keep paying a £900 per month mortgage. - We had stopped paying the mortgage in March as we were advised to do.
The house has been empty now for nearly 4 full months and as yet I haven't handed the house back to the bank. I have gotten Cat C on it for council tax reasons at least. The Bank have yet to send us any repossession letters - apart from one last week saying we needed to pay all that we owed in full. We have told the OR we have not interest in keep in the house etc.
Should I send the keys back now, do I have to discuss this with the OR> As the house is technically not ours. Should I just wait for the bank to take this to court? There is no insurance on the property so I really would like to get rid if you know what I mean. I expected to be hearing re-possession noises from the bank by now.
Your advice will be much appreciated.
Donna
Economy; careful management; providence. Whether you call it thrifty or frugality it all comes down to getting more for your money.
Economy; careful management; providence. Whether you call it thrifty or frugality it all comes down to getting more for your money.
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Comments
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Can no one offer any advice?Donna
Economy; careful management; providence. Whether you call it thrifty or frugality it all comes down to getting more for your money.0 -
Is the mortgage company aware that there is no insurance on the property?
As to what to do, it's up to you. Some people choose to wait until it goes to court, but as you have already moved out you may want to tell the bank that you want to do a voluntary repossession - but DO NOT sign anything that might make you liable for any shortfall.
If it's in negative equity then the OR won't want to get involved.0
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