Advice please

whatdowedonext

Good morning all

My OH had the interview this morning and I could visibly see the weight lifting off his shoulders, neck, head, forehead you name it, it was weighted down!!

The lady was extremely helpful (she loves this site) :T and put our minds at rest, yes it's going to be awful but it's certainly reassuring to hear an expert say yes you're doing the right thing. It's time to try and start again.

We've got lots of stuff coming in the post and she advised it was best to sell the house asap. So i've just made an appt to see a new estate agent we've had the house on with another agent for the past six months and reduced the price and still no sale!!

We don't have a lot of equity but it would at least cover some costs.

Keep you posted and thank you for your heartfelt messages and advice

R & L x

PS I love our house and the memories we've created here but I love our family's happiness more.

So_Sad_Angel

Hi R&L

Isn`t it a great feeling to be positive again....suddenly you can take control & drive the situation instead of being held back by it!!! feels good does`nt it!!

Plan ahead now & remember there will still be the bad days but with support you are well on your way to getting through it!.

I know you love your house but you must remember that it contributed to the situation you are in (mine is the same) ...so have good memories of the house but better memories will lie ahead wherever you live!!

Life is a `work-in-progress` & always changing!

Angiexx ( being very philosophical today!!)

dalip

So glad you made the step and feel better for it,well done.

Your PS says it all;) .
Keep posting and any question just fire away,no matter how silly,stupid,or insignificant you might feel they are.D

whatdowedonext

Evening one and all

Had a chat with a genuine and professional Estate Agent (they do exist)! He didn't paint a great picture of the market and our equity is getting smaller and smaller. If we don't sell quickly we will be heading towards negative equity. At this stage with the amount of debt we have we shouldn't worry about adding to the total debt but it would be nice to be able to sell the house and then go BR. I'm not sure we will have the option but you never know!!

We spoke to the CCCS Mortgage Advisor as we have a charging order from Amex for 16,000.00 on the house. The cccs advised that the mortgage company would be paid 1st if the house realises enough equity any surplus after ea and solicitors fees etc goes towards the charge, hopefully they'll be nothing left for them!!!! Following completion of sale it reverts back to an unsecured debt and therefore can be included in the BR :rotfl:

We've been looking at rental properties in the area and have been quietly surprised no avocado bathrooms and woodchip!!

Both very tired and emulsional so we'll sign off now more news soon :beer:

R&L x

diane4

Hi,I have just read your post and would like to wish you and your family well, you are doing the right thing. My husband has just made up his mind to go BR we don,t own our home though, it,s not the home built around you that matters it,s the family inside that makes the home. You are showing your children that you are being responsible and setting them a good example they will learn from you both that no matter how black things seem there is always a light at the end to see you through.
KEEP YOUR CHIN UP OTHERWISE IT WILL GET SORE DRAGGING ON THE PAVEMENT
Take Care
Diane:eek:

peachyprice

Hi WDWDN,

Can you actually afford the mortgage payments if you have no other debts?
If so, and the house is slipping into negative equity there's no need to sell it, the OR won't be interested in taking it if there's no money in it.

Below I have posted a quote from Richard S (hope you don't mind Richard) on Wot a life's thread which might be of interest to you, regarding mortgage arrears, which you might be able to re-negotiate. It wouldn't get rid of the Amex charging order, but I don't know what would happen to the £60 you are repaying them against that,

"The bank / building society will eventually start proceeding to repossess your house, but don't be tempted to offer to pay anything until it gets to Court. This could well take at least three months, and by that time you should have been able to petition for your bankruptcy, and be relieved of all the unsecured debt.

When you get the Court date, work out what the arrears are, and then deduct five years off your outstanding mortgage term, and work out how much per month the arrears will come to spread over that period. For example, if there's 10 years left on your mortgage, and the arrears are £10k, then that's £1k p.a or approximately £84 p.c.m. This is the figure to offer in Court towards the arrears. There is case law that guides Judges to accept repayment of arrears over the term left remaining on the mortgage, and by deducting five years you are offering slightly more than you need to.

Having increased your arrears will also have reduced the equity in your house, and consequently your Beneficial Interest. If you wait until the very last moment to discuss purchasing the B.I from the O.R there's every chance that house prices will have fallen even further, and the B.I reduced to a point where it's a manageable amount."


HTH

josmidge

Hi

I'd already lost my house before the BR, so i'm no help there but the one thing i can say about renting is if the boiler breaks they fix it all rented accomodaction (not sure about private) has to have double glazing by 2010 by law, most are having big revamps at the moment. I'm with a housing association, so i can do anything with this house and it's mine as long as i pay and want it. I do really miss my lovely house, but i dont miss the heart ache and months of fighting to keep it. I certainly dont miss the visitors i used to get either lol.

Keep your chin up, everything always works out for the best in the end honest!!!

Jo

whatdowedonext

Thank you Diane4, Peachyprice and Josmidge for your lovely comments, support and advice.

In answer to your question peachyprice no we cannot afford to live in the house even without the unsecured debts. Bitten off more than we can chew!!

So we have made our minds up to get out even if we don't sell what we can't decide is when do we go? ASAP or wait until we either sell or the mortgage company evict us?? Any ideas or strong reasonings please advise.

Josmidge I'm sorry you lost your house, you have a fantastic attitude towards it and I really respect you for that. By the way how did you get with the housing association if u don't mind me asking?

My OH was turned down for a salaried job today he'd got to the 2nd interview stage and all seemed promising!! He's taken it very badly but is still cracking on with the commission only job and is trying to remain positive to everyone but I can see it's hit him hard. I think he's more down than he lets on. The kids went back to school today and I went back to work I find it really hard to keep focused and concentrate as negative thoughts and worries creep into my mind during the day.

Got the paperwork from the CCCS today so quite a bit of homework to do tonight!! I've started going through cupboards and putting unwanted toys and clothes on ebay today so hopefully that will help towards removal costs!!

My parents return back from holiday tomorrow and I really don't know what to say to them. They have been so supportive of us and the children over the years emotionally and financially. I think this will panic them I remember when my uncle went br in the early nineties my mother was so worried and shocked she hardly slept for weeks.

Perhaps I'll leave telling them for now they cannot change anything even though they'd try, so perhaps we'll keep the stress off them until they need to know.

Sorry I've rambled but I do find it excellent therapy and doesn't cost £50 per hour!!;)

R&L xx

dalip

You ramble all you want we all did a some point or another.


I did not tell my dad till the day i was declared(insane!)and even then if he had not been going on about how i did not have time to visit him i would not have done so for a while. Only you know your parents so will be able to judge when is the best time.

Many on here have taken the descision to move out before repossession/bc in order to have some power over things which i feel is fair comment.
How about you get somewhere rented sorted and forget the house. Do you really want to be on tenderhooks waiting to be evicted and what about your children. Start looking now!.

Sorry your OH did not get the job he must be devestated, that on top of everything else, bet his pride has taken a real bashing. I feel for him.D

whatdowedonext

Thanks D your message meant a lot to both of us R & L