My House May Be Repossessed Soon

neas

Your screwed... just reload to when you were 20.. .and learn from your mistakes.

Oh you cant do that its not a game lol... So just sell the house move into private... and have a stiff upper lip...

blue_monkey_2

Remy, the council are strict on who they rehouse - even more so now, if you make yourself 'intentionally homeless' they have no duty to rehouse you. This includes selling your house and not having anywhere to live so make sure they are very careful on what they do. They would probably expect the ove 18's to get themselves lodgings and your parents to rent a 1/2 bed.

There are just not the accomodation to go around now so they are being even more strict on who they house. Sorry, not good news but make sure they go into this with their eyes open. A quick sale by your parents leaving their credit rating intact might be better then a repo.

blue_monkey_2

neas wrote: »

Your screwed... just reload to when you were 20.. .and learn from your mistakes.

Oh you cant do that its not a game lol... So just sell the house move into private... and have a stiff upper lip...

Neas, you are getting a bit mean lately, whats wrong with you? I think it is all that saving and not going out turning you into a crank!! Chill out and don't make such cruel remarks to everyone that has problems an that is asking for help. It could well be you one day looking for the same advice! :shhh:

Merlot

If your parents need urgent help with there finances, please please get them to call the CCCS, they are a debt charity who do not charge you a fee, link here, they will advise you http://www.cccs.co.uk/ They are open until 8pm tonight, please phone them now.

I would too sell the house very quickly, otherwise your parents will probably not much or anything of the sale proceeds.

mightymouse

Hi

This is your starting point:-

I've been to see Citizen's Advice Bureau about a fortnight ago about the whole situation, who advised me to concentrate on paying the mortgage and stop paying the credit cards

.

How much is the mortgage and is it interest only?

The lender may assist you by letting you pay a lower amount than the monthly instalment until you find a solution ie a buyer.

neas

How can a financial advisor be so poor at finances? Living on credit... its surely not sustainable..

Im sympathetic to the guy just seems impossible to service 300k debt for so long.

budgie69

I had my house repossessed in 1998. They ripped all of the fixtures and fittings out ( including new carpets and kitchen flooring) and sold it for HALF of its market value. Please try to sell the house yourself, and salvage something. They are still hounding me for repayment of the debt 11 years later. I wouldn't want anyone to go through what I'm going through if they can possibly avoid it

petermb_2

budgie69 wrote: »

I had my house repossessed in 1998. They ripped all of the fixtures and fittings out ( including new carpets and kitchen flooring) and sold it for HALF of its market value. Please try to sell the house yourself, and salvage something. They are still hounding me for repayment of the debt 11 years later. I wouldn't want anyone to go through what I'm going through if they can possibly avoid it

There may be something you can do to end your problem and possibly get some money back from these people.

dmg24

Would you like to elaborate petermb?

petermb_2

Sure
Certain activities that used to be prevalent in the mortgage and loan markets in the nineties and early 2000s were actually in breach of common law. Illegal in other words. There are many loans that may be effected and may well have an affect on those who had their homes respossessed.