Mortgage Arrears Advice

Supermom

Sorry if this is the wrong place to post.

My sister is currently going through a nasty divorce and has admitted today that she has fallen behind with her mortgage (has only made 40% payments for the last two months) She is struggling as at the moment has to pay for two full time childcare places until next September when the rugrats start school so until then it is unlikely she would be able to make full payments.

Her mortgage is with NRAM (Northern Rock Asset Management) does anyone have any experience of being in arrears with them? Did they help? Would they accept reduced payments?

She is really scared they will reposses any advice much appriciated

thanks

Supermom

Sorry to bring this up again, just wondering if anyone could offer any advice?

dollydiva

I'd suggest she get herself to the CAB for debt advice. Does she work? Is this the reason for paying for the childcare places; if not, there's one expense she could do without. But as I say, she needs to find out pronto from CAB what her options are.

Supermom

Yes she works full time and in a well paid job, but she has a large mortgage and at the moment childcare eats up a huge amount of her wage.

She has spoken to the CAB, but the only advice they have been able to offer is that she speak to her mortgage company. At the moment they have accepted the reduced payments for but she is unsure of what will happen this month as they have advised that it will be passed to a specialist team to review.