mortgage arrears help

gardnt1

Few weeks ago, i posted about a friend whos husband is terminally ill and the various cc companies and mortgage would not deal with her. They are now doing so, and it appears she is £3000 in arrears with mortgage.
Mortgage company have no interest and want money, so she has been to CAB who say they can negotiate reduced payments but not before arrears paid..........she has asked me and other work colleagues if we can help..which is at present unlikely.any other suggestions welcome, and asap.

Thanks, Gardnt1

angelavdavis

Has she confirmed that there is no life insurance policy with a critical illness element to cover her husband's situation?

gardnt1

Hi, dont know, so i will check with her.

thanks

Emmzi

The mortgage company may well be able to do 'interest only' for a period, and include interest only arrears, which may help. They will need to know there is some way the mortgage will be repaid eventually eg an endowment policy, payout from life insurance.

From their perspective, there's terminal and terminal - 12 months then insurance payout is very different from 5 years and insurance payout, so his prognosis may affect their reaction.

Ultimately, if there is no insurance, and she can't afford repayments - the house may need to be sold. All your colleagues lending her money will do, is create another debt to be repaid, as well as a probable amount of guilt later on.

Does his/ your employer/ union have any kind of benevolent fund that can help?

I realise I sound very clinical and harsh here.

gardnt1

You dont sound harsh, and its exactly what we feel too.....no point adding to a debt when there are so many organisations that are in a more knowledgable position. TBH I think it is days rather than weeks before my friend will pass and so things would be sorted financially, but obviously take time. I am suprised at the mortgage companies reaction.............perhaps she hasnt explained the situation fully as there is also likely to be a huge payout from the works pension fund for death in service.

Thanks for your help/advice

tealady

I would imagine that your friend isn't thinking straight at the moment so thats where good friends can step in and support her. Even if its just by offering to speak to the mortgage coy (and other organizations) on her behalf. They may require written authorisation (or they may accept it verbally). Whatever the outcome, when times are tough, thats when you really know how good your friends are and how good a friend you are.

Emmzi

tealady makes a good point. Maybe you could help write some letters that she just has to sign?

firesidemaid

are they getting all the work/dwp sick pay they are entitled to? there are extra payments also available for terminal illnesses.

Toto

I can't offer any advice because I don't know, but I did want to offer my thoughts to you and your friends. If I had one word of advice for your friend it would be that there is a lifetime to worry about the mortgage and the bills. If I were the mortgage company I would tell her to go away and devote every ounce of her energy to enjoying the last bit of time she has with her husband. I hate that she has to be thinking of this right now. Hugs to you all.