Repossession query

[justrod]

Hi, we have recieved a letter today saying " we have been instructed to issue proceedings for possession of the property in seven days from the date of this letter, (RBOS), can anyone tell me what happens next and how long the repossession takes.

[Ell-enn]

Hi there, the process is that they will issue possession papers which will give you notice of a hearing approximately 4 - 6 weeks from the date of issue. You will be sent an N11M defence form with the court papers which gives you the opportunity to defend the possession. We can help you with the defence.

 

How many months in arrears are you? and are you able to offer a payment toward the arrears each month in addition to your normal monthly payment?

 

Kind Regards

 

Ell-enn

[lucky01]

sign-up & lets put the pressure on!

 

http://petitions.number10.gov.uk/savemyhome/

[justrod]

Hi there, the process is that they will issue possession papers which will give you notice of a hearing approximately 4 - 6 weeks from the date of issue. You will be sent an N11M defence form with the court papers which gives you the opportunity to defend the possession. We can help you with the defence.

 

How many months in arrears are you? and are you able to offer a payment toward the arrears each month in addition to your normal monthly payment?

 

Kind Regards

 

Ell-enn

 

14 months in arrears, someone was going to buy back in August last year and rent it back to us but it dragged on and on then in April he pulled out, since then we have both become unemployed so can't pay anything, we are prepared for the repossession element and just needed to know what happens now and some sort of time scale, they have also mentioned about declaring me bankrupt as an option.

[Ell-enn]

Is there any equity in the property? is the mortgage interest only or capital and interest?

 

Ell-enn

[justrod]

its capital and interest.unfortunately going on the last valuation there wouldnt be any equity in.The bank were great at throwing the money at you for home improvements etc.All it takes is a run of bad luck and ill health and how quick things can change.

[Ell-enn]

I'm sorry to hear you are in this situation, unemployment and ill-health are the most common reasons for mortgage arrears and the most difficult circumstances to rectify. Who is your lender?

 

Have you asked them to capitalise the arrears onto the end of the mortgage? -it's along shot but it might buy you some time to get new employment.

 

Ell-enn

[justrod]

we contacted the rbs in the beginning and they wouldnt help at all even though for 12 years the morgage was paid on time.So we went down the selling to rent back route.This was at the time of the northern rock crisis and he pulled out. Instead of being straight he kept saying dont worry we will complete soon. By then we were in a position we couldnt get out of.I was hoping that when it goes to court they may give us time to sell it ourselves. The worry is making my ill health even worse and the worry of how long we have is like hell. Thanks for your advice.

[Ell-enn]

When you receive the court papers come back here and let us know and we will see what we can do to help. There is some case law which might be of use in your situation.

 

Ell-enn

[justrod]

Hi many thanks to you, will be intouch when we get the papers. you dont know how it helps to know there are real people who can help.

Thanks

justine

[Ell-enn]

No problem, glad you found us helpful. Have a read around the Repossession forum and you will see that you are not alone in your situation and it always helps to share a worry.

 

Kind Regards

 

Ell-enn