Urgent Advice Needed

Dave555_2

Hi this is my first post to the forum, i wish however it were under better circumstances.

I've been living abroad for a long time and came back last week to what seems to be a disaster that my mothers finances have turned into.

The problem is as follows. Earlier this morning she received a solicitors letter stating they have applied warrant of possession on behalf of her mortgage company and that she can expect to be contacted by a bailiff with an eviction date.

After speaking with her it turns out that there are arrears of £8000 and that several months prior to this she received a suspended notice of repossession on the house and took out a secured loan to cover the amount. The arrears amount seems mainly to be from late a late payment charge and charges on top of charges that seem to have accumulated.

It subsequently turns out that the loan she was told that she would be left with was a lot lower than she first through and didn't cover nearly any of the arrears.

As the current situation stands there now remains close to no equity in the property and no means that i can see of that she can save her house.

I've probably been rambling on a bit i do hope that you can forgive me, it's just this everything above has come as somewhat of a shock to me.

Personally i can see that the repossession is inevitable unless anyone else can think of something i can't.

However if anyone out there can provide me with some kind of time scale for how long the repossession process takes it would be most helpful as I'm now going to have to find a house for her and move everything. I'm not really in a position that can help much financially and as such really need some advice on how to play for time or get some kind of extension. In order to get together some money for deposits, rent etc.

Many Thanks for all your help in advance this is such a nightmare.

HairyHandofDartmoor

Have you or your mother been to the Citizens Advice Bureau for advice? You need some professional advice I would say. Good luck.

Also as your mother seems to have debt issues, I would suggest you post on the Debt Free Wannabee board as well for help with this.

myboyelvis

Hi, I have mrtg arrears of over £4k and was already at the end of my previous 12 mnth suspended order. I did not fully comply with the order and was notifed that I would be evicted on the 24th Oct '07. However, once in receipt of the Eviction Notice from the courts, I called my mortgage company to enter into another payment plan, this was rejected but necessary to exhaust all avenues. My next stage was to go to the courts and complete I think a N22 form (Stay of Eviction), with a £35 cash fee (no debit cards). I completed this form and waited hours for it to be typed up. Basically you are requesting a private meeting with the judge and possibly solictor of the mortgage company to explain why you feel that you should not be evicted. The courts do not want to take away your property but you must show that you can pay the basic mrtg and some of the arrears. Now my judge advised that my mrtg still has 21 years remaining therefore the debt of £4k can be spread over a few years and not the year in which your mrtg company wants. If you can afford to pay the mrtg each month and around £50 - £100 off the arrears then I am hope they would be sympathetic. Good Luck

poppy10_2

Keep in touch with the mortgage company - communication is vital, if your mother tries to bury her head in the sand any longer they will take the house.

EllieB_2

Your mum needs some professional advice,from a solicitor, cab or other agency. However if she gets notice of an eviction date - the form that needs to be completed is an N244 at the county court which should ensure a hearing. As myboyelvis says, the courts do not want to see people homeless, and will normaly at the very least give time for her to find alternative housing