mortgage arrears

[maggiemay48]

Can some help with this problem?I have got behind with my morgage.I owe about £1000. They have said i have to pay £100.per week. to cover the arrears.I am struggling really bad.They told me they were monitoring my payments.Last week i never paid. I am frightnend incase they reposses my home.Can they do this?

[messimoo]

Re: morgage arrears

who are you with I am in the same boat as you mine due to unemployment you may be surprised if you speak to them and explain the circumstances on why you didnt pay They have to follow prorocol when repossessing they may still add on the interest but the best thing to do in this case is to call and explain,

[enaid]

Re: morgage arrears

Hi and welcome to Beagles messimoo, I agree maggiemay should certainly fully explain the circumstances to the lender, repossession is the very last straw and there are as you say rules etc that must be followed before this is even be considered.
Have you any sort of Mortgage Protection that you are paying?
Here is a link that gives some info hat may also help you http://www.legalbeagles.info/forums/...ad.php?t=14245

[maggiemay48]

Re: morgage arrears

Hi and welcome to Beagles messimoo, I agree maggiemay should certainly fully explain the circumstances to the lender, repossession is the very last straw and there are as you say rules etc that must be followed before this is even be considered.
Have you any sort of Mortgage Protection that you are paying?
Here is a link that gives some info hat may also help you http://www.legalbeagles.info/forums/...ad.php?t=14245

no morgage protectiion.

[maggiemay48]

Re: mortgage arrears

Basically. they cant just reposses?

[Amy]

Re: mortgage arrears

Do you already have a suspended possession order or have the arrears only just come about?

[messimoo]

Re: mortgage arrears

no we are lucky as at this very moment negotiatiing a sale on our property and thank the gods when sold that we are able to clear the mortage so they agreed not to take us to court over this. If you are on benefits then you can get help toward the mortage offer token payments even a teeny amount helps and always keep them updated on what happens. they may not be able to freeze interest etc but a willingness to show that you an try and help them in any way you can will always always acount for something. when ever I have had a spare 10 quid or 20 which I would have spend on trivial things I always call my lender up and use it for that purpose if they want proof of why you cannot pay always send this to them this always helpful work with them and they will work with you to resolve this.

[maggiemay48]

Re: mortgage arrears

Do you already have a suspended possession order or have the arrears only just come about?

No i have nothing like this.the arrears have only been these last few months.

[Amy]

Re: mortgage arrears

Good. You must keep them informed every step of the way and pay every penny you can or ultimately, they will have little choice but to go for possession. Although I would think it more likely that this would result in a suspended possession order rather than full possession, given the relatively small amount of arrears you have. Taking you to court will take months yet, so you have plenty of time to sort this out if you possibly can.

Is there anything you can cut back on in order to make the repayments?

How much is left on the mortgage? Are there any children living at the property?

[TUTTSI]

Re: mortgage arrears

Anything over 3 + months in arrears the lender can go for a suspended or possession order. You can if this happens agree to pay back the remaining arrears over the remaining term left of the mortgage by quoting Cheltenham & Cloucester-v- Norgan. This is a well known case and should be used if you are backed into a corner.
http://www.google.co.uk/url?sa=t&sou...CQk4yqo6z0I20Q.

Your Mortgage lender will agree to this but may also take a suspended possession order against you to ensure that you will keep to your word and keep up the repayments a you promised.

Our experience is be up front with them, keep everything in writting as Mortgage lenders tend to change the goal posts after agreeing on the phone.

Tuttsi

[maggiemay48]

Re: mortgage arrears

Good. You must keep them informed every step of the way and pay every penny you can or ultimately, they will have little choice but to go for possession. Although I would think it more likely that this would result in a suspended possession order rather than full possession, given the relatively small amount of arrears you have. Taking you to court will take months yet, so you have plenty of time to sort this out if you possibly can.

Is there anything you can cut back on in order to make the repayments?

How much is left on the mortgage? Are there any children living at the property?

We owe £24000.(grand) We dont have children.Its only lately we have started missing never missed before.in all the years i have been with yorkshire bank.

[Amy]

Re: mortgage arrears

Well as above, you must make these payments and you must try and pay off the arrears.