Getting repossessed-Who has been through it?

Bino

Really brave of you c4c in telling your story of repossession, it shows you have come through so much which took a lot of guts. I hope you have found a bit of happiness after being through so much.

live'n'learn

counting4christmas wrote: »

Hi Live n Learn

I lost my home to repossession back in 2008, my story like others is fairly unique to me.

Oct 2007 - bought house with ex boyfriend - paid 95k for a 3 bed ex council house on a 95% mortgage with GMAC, the 5% was vendor gifted and having had minor credit issues before (me - a couple of catalogue bills but all paid of at that time, ex - no credit history - not even an overdraft) being novices we thought this was all we could get and even paid a Finance Advisor 3k for the pleasure of recommending this

Dec 2007 - me and the ex were moving apart but still decided to try and stay together

March 2008 - I discovered that the ex was cheating on me with anything that moved, he left and promised to carrying on making payments until we sorted the house out. The day after I lost my job due to poor performance due to being distracted.

April 2008 - I contacted GMAC to advise of the split and to see what the options were - there was none, their advice - call back when you are in arrears

May 2008 - 1st payment missed, ex refused to acknowledge responsibility. I took legal advice to state that even if I paid mortgage he would be entitled to half of any profit. Pride got in my way and I refused to pay until his name came off mortgage.

June 2008 - Ex refused to have name taken off mortgage, GMAC's advice now in arrears was to have his name taken off the mortgage - helpful!! I discover that I am pregnant now after going haywire after ex left.

July 2008 - House is now in 10k negative equity after Market downturn. Ex has now turned to getting free legal advice from solicitors who send threatening letters 1 I respond and then get a letter back that they no longer represent him (I'm assuming he ol took the free initial consultation)

Aug 2008 - Turn into a sitting duck with no way out. Stress causes pre eclampsia in pregnancy and I am in hospital most days. I then cancel all DD for council tax, utilities

Sept 2008 - Informed that GMAC are going to apply to repossess the house

Nov 2008 - Court date for repossession - I am rushed into hospital with bp of 180/140 - wonder where that came from!!! So did not attend. Informed by letter that I have 28 days to vacant the property

Dec 2008 - Released from hospital for weekend and at 8 months pregnant instead of resting moved out of house 2 days before for final date. It was the 2 year anniversary of my step dads death and the most shameful day of my life.

Jan 2009 - gave birth to to baby boy!! house remains empty

June 2009 - house is sold for 60k, await letters for the recovery of shortfall. Decide that BR is only option and prepare myself mentally

Fast forward 2011 - GMAC never contacted me for downfall and I buried my head in the sand and never went BR. Finally in March 2011 I take the plunge and go BR - it was the DCA letters for unpaid utility bills that prompt me to do so, not the Shortfall from mortgage

April 2011 - OR interview - GMAC informed of BR - still never had any correspondence from them.

I know that was more emotional than you asked for but hopefull it'll give you an idea of timescales. Having my home repossessed hurt so much and for me was so shameful that I didn't try harder that only BR has given me a truly "Fresh Start"

C4C

Thanks for sharing your story and opening your heart also!!

Sometimes life gets very difficult and i know this next while is going to get difficult but the House is bricks & mortar and i will recover from the near future BR..

So basically if i done nothing the repossession will go ahead and i will get the 28 day letter? This is what i am waiting on anyway to get rehoused..

live'n'learn

counting4christmas wrote: »

Forgot to mention - my repossession was before all of the homeowner help available and before the government changed the guidelines of when to repossess - its my understanding that that they advise to only repossess after 6 months missed payments but it is down to each lender.

I have not made payments since last Sept 10 so it is taking a while!!

counting4christmas

Thanks Bino - sorry to hijack the thread live n learn!!

My only regret is that I didn't go BR earlier - I would be almost half way through the 6 years now. And I'm subject to new IPA rules with take all surplus salary, which if I did it in 2009 I would have had as I was on maternity leave on state benefits as I had not qualified for stat maternity pay from work as I missed out by 2 weeks!!! You would think that it would have taught me not to procrastinate bt no... My self assessment forms for last years BR forms are sat on the side waiting for me to fill them in!!

counting4christmas

livenlearn wrote: »

Thanks for sharing your story and opening your heart also!!

Sometimes life gets very difficult and i know this next while is going to get difficult but the House is bricks & mortar and i will recover from the near future BR..

So basically if i done nothing the repossession will go ahead and i will get the 28 day letter? This is what i am waiting on anyway to get rehoused..

That's what happened to me, please be aware that my council would not rehome me as i had no dependants and the council deemed that I had made myself voluntarily homeless so they would not help until the bailiffs physically removed me from the house - I was advised that this would happen if I hadn't left the house by the 28 days - bailiffs would apply to the courts to remove me and this would take approx another month

Bino

counting4christmas wrote: »

Thanks Bino - sorry to hijack the thread live n learn!!

My only regret is that I didn't go BR earlier - I would be almost half way through the 6 years now. And I'm subject to new IPA rules with take all surplus salary, which if I did it in 2009 I would have had as I was on maternity leave on state benefits as I had not qualified for stat maternity pay from work as I missed out by 2 weeks!!! You would think that it would have taught me not to procrastinate bt no... My self assessment forms for last years BR forms are sat on the side waiting for me to fill them in!!

It is tough though dealing with all that have been through, financial difficulties are hard no matter what the circumstances. You have done your best, taking each day by day, that's the very best you can do.

live'n'learn

counting4christmas wrote: »

That's what happened to me, please be aware that my council would not rehome me as i had no dependants and the council deemed that I had made myself voluntarily homeless so they would not help until the bailiffs physically removed me from the house - I was advised that this would happen if I hadn't left the house by the 28 days - bailiffs would apply to the courts to remove me and this would take approx another month

I nearly sold my house two years ago which would have saved me from all this but i was awarded homeless status so i will get temp accom but that hard part is getting somewhere nice to stay long term after that..

Bino

There's a bit of info on the CAB website for NI on EJO's that might help you live'n'learn. I can't post the link as I'm a wee newbie.