voluntary repossesion - ex forged signature

ALIBOBSY

clayer1970 wrote: »

He couldn't pay the mortgage for the first three months as he was unemployed. He had been kicked out of the marital home and had ni choice but to stay with his sister in Somerset. She wasn't unemployed, in fact earnt very good money, and wouldn't pay anything. As soon as he was working he called her and suggested taking on the mortgage solely and getting tenants in to pay the mortgage.

It was only then that she told him she had handed the keys back and, as it transpires, forged his signature in order to do so. The lenders were chasing the arrears but had not threatened repossession at that point, and ALL legal advice that I've come across states that you must never habd the keys back, except as an absolute last resort. As he had no say, no idea and no choice in the proceedings, I don't really understand the responses ive had so far.

Sadly the bank will not take any of this into account, they will say that even if the fraud is proven, that the OP's partner missed payments and admits he was not in a position to pay-he was unemployed so the house would have been possessed anyway.

At best I suppose they MIGHT accept the argument that had he had the chance to he could have sold the property for slightly more than it went for and perhaps might be open to reducing the outstanding.
He probably should have spoken to the bank as soon as he moved out, I know its hard when things break down, but from the banks POV they will see him as having walked away from the debt.

We can all be sympathetic, it is a rotten situation and I can see why it is upsetting, but the reality is the bank simply want their pound of flesh and even if fraud is proven its doubtful they will write off the outstanding. May be worth a consultation with a solicitor to clarify the legal position and then decide if you want to report the fraud.

Good luck whatever you decide.

Ali x