Repossession, Heavy Debts - Damsel In Distress - Help & Support Needed

Unicorn_cottage

Malibu1 wrote: »

Why does is matter what area of country I live? I'm not looking for advice on what price anybody else thinks my property should be marketed at... Or is there another reason for that question?... Just so that I can understand ?

Malibu. The area of the country you live in is HUGELY important to the situation you are in but as you will not provide that information I and some other posters will not be able to help you. I have an Uncle who is in a similar situation to you. He is in the North East, his property is massively overpriced (he thinks it is keenly priced) and he is facing reposession. If his property was priced appropriately he would have sold it by now and avoided some of the issues he is facing but he is stubborn and unwilling to listen. We await the car crash when he has nowhere to live and wants to come and live with my mum!

Malibu1

Unicorn_cottage wrote: »

Malibu. The area of the country you live in is HUGELY important to the situation you are in but as you will not provide that information I and some other posters will not be able to help you. I have an Uncle who is in a similar situation to you. He is in the North East, his property is massively overpriced (he thinks it is keenly priced) and he is facing reposession. If his property was priced appropriately he would have sold it by now and avoided some of the issues he is facing but he is stubborn and unwilling to listen. We await the car crash when he has nowhere to live and wants to come and live with my mum!

Again, although I appreciate your suggestion, this is not relevant to me and the constant debates about my property price are just wasting time and deflecting away from bigger picture / priorities... Lucky your uncle has somewhere else to go... I don't.... Please just drop the 'drop the house price' argument... I beg you .

Still would happily tell you which area of country I live, only if for different reason though than attacking my house price..

Unicorn_cottage

Malibu1 wrote: »

Again, although I appreciate your suggestion, this is not relevant to me and the constant debates about my property price are just wasting time and deflecting away from bigger picture / priorities... Lucky your uncle has somewhere else to go... I don't.... Please just drop the 'drop the house price' argument... I beg you .

Still would happily tell you which area of country I live, only if for different reason though than attacking my house price..

The point is he will not have anywhere to live he just assumes it and wants someone to sort out his mess. You are not willing to listen and take advice therefore I am out. Nobody can help without FACTS. No doubt you will say that I am mean and nasty but all I was asking is where you live - this is not just about cost but about important issues such as the rate of sale in particular areas. Best of luck Malibu.

Sea_Shell

But if you don't drop the price to something that a buyer is willing to pay, and you are unable to make sufficient mortgage payments before then, you will be repossessed.

By refusing to lower the price you're sealing your fate and there is nothing any of us can do about that.

There are no magic wands here, unfortunately.

Malibu1

Unicorn_cottage wrote: »

The point is he will not have anywhere to live he just assumes it and wants someone to sort out his mess. You are not willing to listen and take advice therefore I am out. Nobody can help without FACTS. No doubt you will say that I am mean and nasty but all I was asking is where you live - this is not just about cost but about important issues such as the rate of sale in particular areas. Best of luck Malibu.

I just don't have the time, energy or inclination to give you whatever FACTS you think you need to establish what price you think my property should be marketed at. That is not a reasonable, or rational request to me and maybe your uncle would benefit more from some moral support in other ways... Does his mortgage lender have a possession order?... Has he received a notice of eviction?.... Is his situation exactly same as mine?... I doubt it... But really do appreciate your kind wishes.

Malibu x

Malibu1

Sea_Shell wrote: »

But if you don't drop the price to something that a buyer is willing to pay, and you are unable to make sufficient mortgage payments before then, you will be repossessed.

By refusing to lower the price you're sealing your fate and there is nothing any of us can do about that.

There are no magic wands here, unfortunately.

I think you're missing a very big point in this, in that I shouldn't even be having to be forced to sell my property in the first place... Sorry if you don't understand my situation, but not much I can do about that.

... I don't expect much.... certainly not magic wands.... Just normal, human common sense.

enthusiasticsaver

Malibu1 wrote: »

I think you're missing a very big point in this, in that I shouldn't even be having to be forced to sell my property in the first place... Sorry if you don't understand my situation, but not much I can do about that.

... I don't expect much.... certainly not magic wands.... Just normal, human common sense.

If you are not keeping up mortgage repayments what do you expect Britannia to do? You borrowed the money to buy the property and it is not yours until you have repaid the mortgage. The contractual payment has not been paid numerous times so why do you not think they should enforce their right to repossess the property?

I get you are going through a tough time but I am not sure you understand how a mortgage works. You buy the property with borrowed money, make monthly repayments and eventually it is yours. Now due to your circumstances you are unable to make repayments and mortgage lenders will normally bear with you for a certain period of time while you sort something out but from the sound of it there has been almost a year with few repayments made. That is why you are being forced to sell or they will sell it for you.

sourcrates

And on that bombshell, we will call proceedings to a close, as this thread is getting a tad contentious.