ge money

[messimoo]

fell behind on my mortage due to losing my job (we sold the house and were supposed to be moving over 100 miles away() and due to the incompitence of the solicitors and former estate agents (who will remain nameless ) the sale fell through. we done everything correctly informing \GE money of situation and the fact that now that we are again sold STC and provided them with all documentation and some of theinterest is being paid by government and were told catagorically that they would not take any action or go for repo. LO and behold this morning received a letter stating they are going to try and repo. THE HOUSE IS SOLD STC surley they know that they will be once everything sorted that the mortgae would be paid in full but they seemed to overlook this and as I am only paing interest olny they also seem o be adding interest on the interest charges and for the 94,000 mortgae took out they want nearly 106,000 back unfair I think. When I called them this morning one female just hung up on me after seing I was upset and a male then told me the letter should not have gone out but I am very dubious what should I do.

[WendyB]

Re: ge money

Write to them, explaining the situation, and get them to respond in writing, clarifying exactly their position, and how much you owe, (capital, interest etc0 and how the settlement figure is made up. . As to the amount they say is a settlement figure, as you are only paying the interest, when you settle obviously you have to repay the original capital as well. So, if you took out a mortgage for 94k, then you will have to repay the original 94k, plus any interest which is due. Remember that you would have been paying the interest over the lifetime of the mortgage, it would still be due, even though you were paying it over xx years at xx per month. Now you are ending that agreement by settling, so the 12k is the interest that would be due to date, I would think.

I'm sure someone will correct me if I'm wrong.

And what's more, they can't just repossess your house at the drop of a hat, it has to go to court etc first and repossession order must be granted by a Judge.

[messimoo]

Re: ge money

is all the extra charges it seems to me that as they are now aware that the house is to be sold they want to eat up as much of the equity as they possibly can and how can an extra 5000 charges go on in 3 months ????? when we initally sold the house the redemption figure was 101,000 now its 106,000 seems that they want thier pound of flesh shpuld I complain ow or wait until everything has been finalised

[Caspar]

Re: ge money

I'd be inclined to SAR them so you can see exactly what charges have been applied and when. It does seem, from what you say, they are not behaving reasonably. I'd get an SAR off to them, wait for their reply and then you can see what is what.

Post their reply on here and get advice from there. If you talk to them on the telephone, record all the calls - you need to start building up an evidence base.

[messimoo]

Re: ge money

when I get spare cash (I have nothing) I'll get an sar been through all the redeption figures and charges they sent (mugs give them on the arrears statements )and they are very disaprtunate even through the dss are paying part of the interst with them through the schem I'll have to wait for thier reply with the complaint I sent to them yesterday a\bout the letters threatening repo even though they have been informed all the way. We are under the impression that they are trying to eat up all the equity then slap the repo then take us for everything.

[Caspar]

Re: ge money

Just sent you a pm. Have a read and get back to me!