Pic08 mortgage arrears

[pic08]

Hi we are in arrears with our mortgage and things are being prepared for court. We cannot pay anymore than what we have been paying. Our house is up for sale and has been for 6 weeks, if we sell it at the price its up for now we will break even...that seems like a dream.

We have been offered a job abroad, my question to you is...is it obligatory to attend court? If we sell our house before its taken off us can we pay the difference outstanding by making an arrangement to the mortgage company?
Many thanks

[pic08]

Re: Urgent: Repossession Advice Required

Hi we are in arrears with our mortgage and things are being prepared for court. We cannot pay anymore than what we have been paying. Our house is up for sale and has been for 6 weeks, if we sell it at the price its up for now we will break even...that seems like a dream.

We have been offered a job abroad, my question to you is...is it obligatory to attend court? If we sell our house before its taken off us can we pay the difference outstanding by making an arrangement to the mortgage company?
Many thanks

[Happyolddog]

Re: Urgent: Repossession Advice Required

If you sell and settle with the mortgage company before the court date then there is no outstanding debt, so no need for a court case.

Good Luck,
Hod..Liam..

[TUTTSI]

Re: Pic08 mortgage arrears

it might be worth checking that if you walk away...... they could come after you for any shortfall and their expenses which in the long run could be a sizable amount. Unless you come to an arrangemebnt with them prior to you handing them the keys that you will not be responsible for any further charges and expenses and that it is not going to affect your credit rating.

If you decide to stay in the UK and not walk away, you could add the arrears for the remaining term of the mortgage (Norgan v Cheltenham & Gloucester) by coming to an arrangment with them.

Others may have more help.

[pic08]

Re: Pic08 mortgage arrears

hi all the court date is in 3 weeks

we have dropped price so that if we sell we will end up with a debt of £20,000

although we are moving abroad we have no intention of 'hiding'

what will happend re court?...obviously we know we wont have to go as we dont intend making an offer as we will move the month after...how long would it be before we had to be out of the property if ;

1) we didnt attend

2) if we did attend, would it be worth going through all our circumstances?

many thanks

[Amethyst]

Re: Pic08 mortgage arrears

depends on what the court orders - usually between 28 and 56 days.

If you don;t intend making an offer and are happy to just walk away from the house with nothing then no not a lot of point going through your circumstances. I'm not sure what happens with a shortfall on repossession. Have a read of this though National Debtline England Wales | Debt Advice | Factsheet 11 Mortgage Shortfalls

[pic08]

Re: Pic08 mortgage arrears

hi again court now in 2 weeks....we wont be attending court (as previously explained)...

what will happen after the court date as in.....

will we difinately have at least 28 days to vacate, even if we dont attend?

if we sell the property in between the court date and the day in which we vacate, would this be a valid sale?

many thanks

[TUTTSI]

Re: Pic08 mortgage arrears

Personally, and this is just my opinion I would attend if at all possible at least if you do you may get the 56 days and in this time you may be able to sell the property. If you do not attend they will for sure go for 28 days and they will try and get their huge costs added. If you are in court you could tell them that you are trying to sell and that you need the longer time.

xx

[Amy]

Re: Pic08 mortgage arrears

I would attend.

If you don't explain your circumstances to the Judge how can he even attempt to help you, he's not a mind reader.

[pic08]

Re: Pic08 mortgage arrears

thanks for all your help, its really been welcomed.

we are moving the week after the court case and as we are moving and house been up for sale for 3 months, we havent paid anything since beginning of july.

if i do go to court i shall have to tell them we are flying away and even if i tell them we dont intend on hiding away, they may not believe me.

i'm sure that as we havent paid any money since july they wont allow us to have 56 days grace...please dont judge me we have a chance of a new life and only as our house hasnt sold are we in this situation

i am in a real quandry and just wish someone would but the house

thanks in advance

[WendyB]

Re: Pic08 mortgage arrears

Well you know the old saying...."if wishes were horses......."

Sorry to sound a bit hard, and i wish you well in your new life abroad, but it seems to me you can't have it both ways. On here we can only advise, and speculate as to what the judge would order, no-one is clairvoyant and the only way to know for definite is by attending the court.

Yes you would probably have to tell them you are leaving the country (although I'm not sure about that tbh) but even if you leave the country, it won't go away - if the house is still up for sale before you are repossessed, and someone wants to view/buy, how are you going to deal with that? Have you got someone here who will be having the keys/forwarding post/whatever? Becuase leaving the country will be a fresh start, yes, but you'll still have unfinished business to deal with which you might not be able to forget just because you're abroad, you might end up thinking about it and stressing anyway, so why not try and sort out as much as you can before you go?

[Amy]

Re: Pic08 mortgage arrears

How will you receive the court papers if you are flying out a week later?

[pic08]

Re: Pic08 mortgage arrears

thanks for comments
as previously mentioned i WILL NOT be hiding from the debt/outstanding balance etc, we have a friend who will sort out paperwork as much as he can and he will have our forwarding address.....

i know you are not clairevoyants but asking for advice only not a physic reading

thanks once again

[Amy]

Re: Pic08 mortgage arrears

As I said earlier, I think you should attend. If you attend you will have the facts, you will know exactly what is going to happen and what you must do (if anything).

It's all conjecture and speculation, not to mention waiting and worrying otherwise.

[pic08]

Re: Pic08 mortgage arrears

thanks amy i appreciate that....