Suspended Posession Query

[gundog]

hello! im writing with an issue im facing with my mortgage company Future Mortgages.

We have arrears of just over £4k currently and we have a hearing set for Monday 12th March.

I have contacted them to see if we can avoid the hearing, the answer was, either pay the arrears in full or come to an arrangemnt for a suspended posession.

My questions are this:

• Taking into account I cannot afford the £4k, do I have any other option at all other than a susepnded posession? or is that the best I can hope for?
• Will the court almost certainly accept a suspended posession arrangement?
• If I missed a pyament in future, is that it? game over? do i lose my home?
• Im trying to sell my home at present, will this info be available to the public? as if it is, I'm bound to get cheeky offers as they know im desperate?

thanks in advance, this is an awfully stressful time!

[Byncinano]

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[labman]

Re: Suspended Posession Query

Hi,

There is someone who will be on here later who I know has had a suspended possession order on their house, so I'll try to get them to look at this post.

Meanwhile, this answers your question about missed payments. I posted the whole relevant piece as it happened to be the same company. I do not know if this is their standard method of operation or not.

Taken from:

Fighting a suspended possession order

Hi I am new here and hope I have started this thread in the correct place.
I am after some advice reference my situation with my mortgage company Engage Credit
Up untill November 2010 my mortgage was with Future Mortgage who went on to sell my account to Engage Credit.
When we were with Future we ran into arrears with Future who applied for a possession order,after negotiating with their solicitors Wallers it was agreed between us,them and future that they would not go for eviction as we agreed to pay an additional £150.00 on top of our repayment...this was agreed 10 days before the possession hearing set for 10/04/2008...I asked if this hearing would be cancelled and was told no,they would go ahead but get it suspended and that I did not really need to attend although I could if I wanted...My husband and I did not attend we were just relieved we would keep our house..(BIG MISTAKE!!!!)...Over the next 2 years we rolled on with Future,we did have slip ups that could not be avoided but always kept them informed,on 2 occassions they went for eviction dates and got them but they were always cancelled by Future due to us either paying and catching up etc...towards the end of our time with Future we could not afford the extra £150 and would speak to them knowing only to well we could face eviction,however they became quite laid back telling us not to worry,pay what you can etc...it became clear once we were sold to Engage a couple of months on that this was why ...we were no longer going to be their problem.