stopped paying the mortgage - now what?

mrsrwallace

the latest is that the lady who made us the offer on our house has now withdrawn that offer she has found a property she likes better so we're back to square one! House still up for sale now. Few viewers, no more offers.

mofopants

so sorry to hear this mrsrwallce, but you never know who else might be looking. I'll keep everything crossed for you.

mrsrwallace

well, the latest is my OH has now been offered a good job with a dependable income and he has accepted it. So we CAN now afford to keep the house. I am just wondering is it too little too late? We wrote off to lender with details of the job offer and salary and are awaiting their decision. I really don't know if they will let us stay on or not. We are in arrears so we have asked for a full breakdown of those so we can put some repayment offer to them to catch those up but I am wondering if they will just say no to it all.

If they do say no we will still have to sell or voluntarily surrender as we have a massive shortfall so if that was the case then we would have to consider BR. However, it would definitely mean the end of my job but I am not so sure if he would lose his new job or not (prison officer)? Anyone on here been in arrears and been allowed to catch up or has anyone any experience of being practically at end of their tether then get a lifeline in the form of a new job? This should be the answer to our prayers but we are still unsure as to what will happen.

irishjohn

Got no advice on this Mrs Wallace - just wanted to say great news about the husbands job. But I would say stay positive and believe that you can keep the house - I sincerely hope the lender agrees a solution for you.

suki1964

TBH as afar as I know banks are so inundated with bad debts that anyway they can help you keep your house is good news to them

when we were looking to move, trying to put our house up for a mortgage was a no no as they say -" we have enough houses and not enough buyers"

pepper33

Any word Mrs Wallace? I have been waiting for a reply to my letter quoting the MCOBS and have had no reply, but I suppose it is only a week....seems like a month to me. So stressing isn't it.
But trying to keep positive..... and thinking of how unjust the government are being to people that have been honest and hard working all their lives...

mrsrwallace

hey pepper, no word from lender as yet, hope to hear something in next week or so as to what they have decided. Could go either way.

wanchai_2

Fingers crossed for you mrsrwallace xx

mrsrwallace

got word back from lender that they are prepared to negotiate an arrangement for catching up with arrears, so we just have to pay this month's mortgage payment and put in a repayment proposal. Hoping it is accepted.

wifeforlife

mrsrwallace wrote: »

got word back from lender that they are prepared to negotiate an arrangement for catching up with arrears, so we just have to pay this month's mortgage payment and put in a repayment proposal. Hoping it is accepted.

Great news Mrswallace, it's been a tough few months but hopefully the arrangement will be accepted.

Best Wishes to you