Voluntary Repossession

themull1

what if the bank sell for less than your mortgage? you will have to foot the bill.

andyandflo

Thanks for all of that, it is quite a lot to digest. Once again I seem to have jumped from the frying pan into the fire. What an awful year it has been so far.
I follow everything that has been said, but assumed rightly or not, that the bank were there to help, not help themselves!
I can't see that much can be done at this late stage but the idea of seeing somebody else seems a good idea.
Not only have I been stitched up with my benefit income, I now seem to have handed an asset to someone. Yes I could have kept the mortgage payments up, and maybe should have gone down that route.

The house is still empty, and not for sale last time I checked last week. I spoke to the bank last week about it and they said they are waiting to see if the market improves.

Do you think I can undo everything then as there are only 2 mortgage payments outstanding, which I could pay if needed.
This whole thing has really upset my wife and at our ages (62 & 66) it was the last thing we expected.
Neither of us is in any form of good health and with everything else going on around us, it is really getting to us now.

sophievenusdoom

andyandflo wrote: »

Thanks for all of that, it is quite a lot to digest. Once again I seem to have jumped from the frying pan into the fire. What an awful year it has been so far.
I follow everything that has been said, but assumed rightly or not, that the bank were there to help, not help themselves!
I can't see that much can be done at this late stage but the idea of seeing somebody else seems a good idea.
Not only have I been stitched up with my benefit income, I now seem to have handed an asset to someone. Yes I could have kept the mortgage payments up, and maybe should have gone down that route.

The house is still empty, and not for sale last time I checked last week. I spoke to the bank last week about it and they said they are waiting to see if the market improves.

Do you think I can undo everything then as there are only 2 mortgage payments outstanding, which I could pay if needed.
This whole thing has really upset my wife and at our ages (62 & 66) it was the last thing we expected.
Neither of us is in any form of good health and with everything else going on around us, it is really getting to us now.

I really feel for your predicament, and what they have done is absolutely scandalous.

I don't know where you stand with regards to being able to claim your house back, as I am not trained in the field, but morally I believe there is something you should be able to do.

Please seek legal help in this regard. Most sols will offer you a free 30 mins consultation, or even the CAB might be an idea?

Good luck, and take care

Senior_Paper_Monitor

As Mr RA indicates there is a 'little more behind this' than might be gathered from the OP's information on this thread alone.

Notwithstanding that, the bank's 'advice'/actions appears questionable if they are anything like as the OP reports herein (and I would stand behind my remarks about other people not following the same route).

I am going to send a suggested course of action to 'andy' by PM as I don't feel this is a subject for an open forum debate - but don't feel able to help him beyond that.