Worried About Not Paying Full Mortgage Payment. :-(

doggylover

Hi everyone, I hope someone can offer us some advice?

Since my partner's clothing online business has all but collapsed, we have been struggling to make ends meet. We are lucky to have a low mortgage of around £250 per month (over the next 7+ years), however due to the business failing we have been only able to pay £100 per month for the last 5 months. This has been agreed to with the mortgage company (C&G). Now we have one more agreed payment of £100 left (May), then they say they are going to take us to Court for a 'repossession' of our house!

Now my Mrs who is nearly 58 is somewhat getting distressed at the thought of this, naturally. We actually have our house up for sale at this moment in time. When we first put it on the market last year it was set at £90,000, now due to our desperation we have lowered it twice. Now it's at offers over £75,000!! We already worked out that if we can sell our house we would be in the 'clear' as we will pay off what's left of the mortgage and buy the Park Home that we are planning on buying. (IF that stays up for sale!). Just so damned frustrating, and I hate seeing my Mrs like this.

Can anyone offer us any advice on what we can do about the mortgage company threat? We can struggle on at £100 per month, and that's leaving our vehicle 'off the road' and cutting down on the heating. Nightmare.