House Reposession - urgent help please.

doingitall

Depth_Charge wrote: »

Hi

From what you have put so far it sounds like you are far from losing your home.

As I am sure Shelter have told you a N244 form eventually may need submitting to court to obtain a hearing to suspend the warrant of eviction if you cannot reach an agreement with your lender or even if you do.

Make sure you fully understand the procedure for agreeing terms where suspending any eviction warrant is concerned, get confirmation in writing and never take chances or anything for granted with your lender. Check with the court if necessary.

You will need to make your payment proposals clear and likely need a Financial Statement as a back up to your proposals to your lender and court if necessary.

By making normal mortgage payments plus an amount to clear the arrears before and up to any actual hearing will most definitely help as you. The fact that you have taken advice will also go in your favour. Do not be afraid of any court hearings, what is important is that you get your proposals in order showing that they are sound.

Have you a local advice agency to help you with the proposals and court hearing, check out whether your local court has a Duty Solicitor Scheme.

Just a thought, have you a straight mortgage with Northern Rock or is it by any chance a together mortgage - it is important that you understand your mortgage agreement.

I am only going on the limited information you have provided.

Is there any chance of you putting up your SOA as this could make it easier for people to give you further guidance.

CAB guide below on mortgage arrears & possession etc that should help some? Read this carefully there is plenty of information and help in there for the all to familiar circumstances such as yours.

http://mymoney.nedcab.org.uk/moneyadvice/mortgagearrears.asp

There may also be the option of the Mortgage Rescue Scheme as a last resort

http://mymoney.nedcab.org.uk/moneyadvice/mortgagerescuescheme.asp

Best Wishes

It is not a together mortgage. We borrowed 3 times our salary and had a 5% deposit.

doingitall

I will contact Shelter again to ask about suspending the eviction. I should have the lump sum I am expecting within 3-4 weeks at the most. This is £12,000. This would mean that the remaining arrears can be paid off in one go leaving me with £8000

How do I do a SOA?

doingitall

Just an update.

Spoke to NR about the mortgage arrears and they were willing to set up a payment plan to clear the arrears with no further action to be taken.

I am waiting for written confirmation of this but I might just sleep tonight after no sleep at all for days.

Thanks to everyone who offered help.

I'll be reading all the info now on upping my income to try and pay the arrears of quicker and then build up some savings.

Usa2012

doingitall wrote: »

Just an update.

Spoke to NR about the mortgage arrears and they were willing to set up a payment plan to clear the arrears with no further action to be taken.

I am waiting for written confirmation of this but I might just sleep tonight after no sleep at all for days.

Thanks to everyone who offered help.

I'll be reading all the info now on upping my income to try and pay the arrears of quicker and then build up some savings.

That's great news. I'm really glad they agreed an arrangement. I'm sure you will feel some relief, and sleep better.
Xxx