Help, the 2nd charge on our house are trying to bully us into paying them.

silvercar

Lollyheart wrote: »

It's not really fair that they can do this, they know they are getting a good deal if they eccept now.

You are assuming that all departments talk to each other; that everyone at decision making level understands mortgage rescue; that people without authority realise it needs to be passed up the chain rather than dish out the usual mantra of "pay or you risk repo" and "we won't agree a sale without all the money".

lollyheart

silvercar wrote: »

You are assuming that all departments talk to each other; that everyone at decision making level understands mortgage rescue; that people without authority realise it needs to be passed up the chain rather than dish out the usual mantra of "pay or you risk repo" and "we won't agree a sale without all the money".

Its starting to become clear, my husband and i are understanding it more now.

what do you suggest we do now?

The 2nd charge have said the would remove the charge if we pay the shorfall, but they want the full monthly payments to do this, which we cant afford and defeats the object of going br.

thanks.

silvercar

lollyheart wrote: »

Its starting to become clear, my husband and i are understanding it more now.

what do you suggest we do now?

The 2nd charge have said the would remove the charge if we pay the shorfall, but they want the full monthly payments to do this, which we cant afford and defeats the object of going br.

thanks.

Assuming that they don't budge, you could just ignore them and see what they do when you don't pay them.

Given that the main mortgage people know you are going for mortgage rescue they are unlikely to repossess quickly, so you do have some time.

Or you can stop paying the mortgage and the 2nd charge, save the money up for a deposit and advance rental and let the house be repossessed.

Its really annoying that these pesky second charge holders have so much power that they can carry more influence than the main mortgage company.

lollyheart

silvercar wrote: »

Assuming that they don't budge, you could just ignore them and see what they do when you don't pay them.

Given that the main mortgage people know you are going for mortgage rescue they are unlikely to repossess quickly, so you do have some time.

Or you can stop paying the mortgage and the 2nd charge, save the money up for a deposit and advance rental and let the house be repossessed.

Its really annoying that these pesky second charge holders have so much power that they can carry more influence than the main mortgage company.

Ok thankyou so much.

I think we are just going to sit tight and hope they realise its in their best intrest they take all or nothing.

silvercar

lollyheart wrote: »

Ok thankyou so much.

I think we are just going to sit tight and hope they realise its in their best intrest they take all or nothing.

It may depend how much the offer is compared to the outstanding debt.

Is the OR happy for you to offer them a payment? Is there any money for them from the mortgage rescue scheme?

lollyheart

The or said not to make any payments to them.

There will be some money if they except the offer from the mortgage scheme, but there will be a shortfall, im sure if the reposess the house will sell for less than the market value in that case there will be nothing left after the 1st charge are paid.

silvercar

lollyheart wrote: »

The or said not to make any payments to them.

There will be some money if they except the offer from the mortgage scheme, but there will be a shortfall, im sure if the reposess the house will sell for less than the market value in that case there will be nothing left after the 1st charge are paid.

Write to the director explaining this.

dryliner1

hi we went through the rescue and had second charge of 25000.they tried in getting us to pay and we said no.in the end after showing our case to them that they will get nothing they accepted 2500.00 that the council paid for us.all we showed was that as we were both br they would get nothing.we was lucky in that our council woman was fantastic and was always on our side .she told them to forget it or accept the offer and in the end they did.that was black horse who we had

silvercar

dryliner1 wrote: »

hi we went through the rescue and had second charge of 25000.they tried in getting us to pay and we said no.in the end after showing our case to them that they will get nothing they accepted 2500.00 that the council paid for us.all we showed was that as we were both br they would get nothing.we was lucky in that our council woman was fantastic and was always on our side .she told them to forget it or accept the offer and in the end they did.that was black horse who we had

Just goes to show it can be done.

Lost2

If I where you I would get in contact with your OR
and let them know what is going on as debtors are not suppose to
contact you after BR