house repossession

D&DD

Just read Richards post and it reminded me of something else.We were seeing the money advisor at the CAB and this is what she said..Priority is rent/mortgage,c.tax then utilities.If there is nothing left for the others then they will have to accept token payments.Obviously it didn't work for us as we were too far in by this point but this is what they do advise to do as well as doing a budget plnner exactly the same as Martins!!

desperado1_2

hi what worries me as we couldnt really prove to the judge that we can afford the monthly mortgage payments plus extra for the arrears, as my husband is a self employed scaffolder and could earn £500 one week and £100 the next. We will also have not made a payment on the 20/1 as promised to GE money which they had agreed to suspend the possession order, therefore i feel that ge money will go for straight possession

thank you for all your help

i just feel that we have already lost our house just need to find somewhere else to house us all

desperado1_2

hi what worries me as we couldnt really prove to the judge that we can afford the monthly mortgage payments plus extra for the arrears, as my husband is a self employed scaffolder and could earn £500 one week and £100 the next. We will also have not made a payment on the 20/1 as promised to GE money which they had agreed to suspend the possession order, therefore i feel that ge money will go for straight possession

thank you for all your help

i just feel that we have already lost our house just need to find somewhere else to house us all

we are just paying token payments to our creditors but are still struggling

jacquij123

Hi,
If you can pay any money at all towards the mortgage it will give you a better chance at the hearing. Don't think because you can't pay it all it's not worth paying anything. Also, this won't end when you are repossessed, just in case you may feel like giving up and getting it over and done with. I don't mean to be doom and gloom but after the bank take the house and sell it you will be liable for any shortfall. Even if you just pay a bit a week it will show the judge that you are doing your best and they really don't want to throw people out on the street.
Good Luck/

Richard_S

desperado1 wrote:

hi what worries me as we couldnt really prove to the judge that we can afford the monthly mortgage payments plus extra for the arrears, as my husband is a self employed scaffolder and could earn £500 one week and £100 the next. We will also have not made a payment on the 20/1 as promised to GE money which they had agreed to suspend the possession order, therefore i feel that ge money will go for straight possession

thank you for all your help

i just feel that we have already lost our house just need to find somewhere else to house us all

we are just paying token payments to our creditors but are still struggling

Des,

We're on our way out so just a quick post (Oh the trials of being an undischarged BK)

I assume yr mortgage is with GE. If you made an offer of payment based on the information you had at the time and subsequently circumstances changed then there's nothing you can do about that; you can't pay money you don't have. Inform them what's happened and that it's due to the bad weather and that you're committed to paying as much as you're able to when the wether improves.

If they go ahead and sue for repossession that doesn't mean it will be granted and these things take a long time to actually get to court so don't get disheartened, for the sake of your children you need to stay motivated and positive. It's undeniably a s**t situation but you won't improve it by losing heart.

Talk to GE, go to the CAB, contact CCCS, post yr SOA, they're all positive steps that will improve the situation, they'll make you feel as though you're taking control, which you will be, and you will start to see some positive outcomes. I can't say what they might be, but it will happen.

What about tax? If your hubby is self employed is there any chance of a tax rebate if this year has been really bad?

Make a list of things you're going to do tomorrow, make a list of objectives, tidy your bank statements and credit card statement, organise the pile of letter sat on the top somewhere in date and company order.

Regards

Richard

sophiesmum_2

I agree with jacqui, making payments off the mortgage no matter how small shows the judge that you are trying to sort out the situation. At the hearing the building society have to take the judges decision.
I work in housing and have been involved in several evictions from the landlords side and judgese really don't want to make people homeless. I have been involved with several cases where the tenant was on the second or third hearing and were still given another chance to make a start at clearing the debt.From the landlords position this is not what you want to hear when someone has intentionally run up arrears and you want them out, but from your point of view it is good news.Don't be bullied into paying arrears that you can't afford, try and negotiate a realistic amount.If you know you can't make the payment now contact your lender and ask for a lower amount /anything, but keep them in the loop. They will be sent paperwork by the judge asking what steps you have taken with the debt,how many times you have contacted them etc, all this is taken into consideration.Get things in writing and keep records of phonecalls/who you spoke to etc.

Have you any equity in the house?
If your hubbys income has dropped have you tried claiming tax credits?

Also agree with the other posters, channel money from less important debts and try and find the money for the mortgage- it is not too late yet.
Good Luck
sophiesmum

desperado1_2

I appreciate everybodys advise and their words of wisdom

I just feel we are flogging a dead horse, even if the judge is on our side and agrees to accept £15 a month for the arrears, i don't know how long my husband and i can carry on paying the monthly mortgage with it being £1147 per month, and scrimping and saving to try and live.

Obviously we do not want to lose our house but it is getting to the point that realistically we cannot afford it, and it is just getting me really down although i am keeping my chin up for the kids. My husband is being helpful but he leaves this thing to me while he is working all hours trying to get some work together, but at the moment to not much avail, i just the summer/spring would come soon

once again thanks for all your help

jacquij123

Hi, If you have decided that the house has got to go it's going to be better if you are in the driving seat. Paying some towards the mortgage now will maybe give you some time to sell yourself. Believe me if it's left to the bank it will probably go for a very cheap price and you could potentially be left owing thousands. They then have i think 12 years to chase you for it. On the other hand, if you sell the house you are bound to come out with some extra cash that can towards other debts, moving expenses etc.

jacquij123

Also, if you do go in for renting selling the house yourself will give you time to look for a place. Rents vary considerably, I was looking at mostly £650 but managed to find a place similar for £500. It is dated but clean and more than OK for us. We went with a private landlord and just had to give two personal references.

CLAPTON

There really is insufficient information in this thread to make any sensible recommendations

really you need to

tell us your income, your spending, all the details of your debts, the background that has lead to the current situation

your choice but without full information any advice etc is pretty worthless.