Mortgage Arrears House Reposession..Help!

[Emilybeckett]

Hi all,

 

Sorry but this is quite long so please bear with me:(

 

Could someone please help as our mortgage company, GE Money, are taking us to Court for repossession of our home, the Court are yet to set the date. We have missed the mortgage payments (3 in total) due to my husband being out of work since August 08. We couldn't claim on our mortgage payment protection insurance as we have not had the policy long enough!! We are in an IVA and also have two children, we are really worried. I do work full time but unfortunately, do not earn enough to pay everything. We made an offer of £100.00 per month towards the arrears which the mortgage company have declined and have told us they want £217.00 a month as well as the full monthly mortgage payment. I duly paid the £217.00 at the end of September but consequently, then couldn't afford the full monthly mortgage payment:confused: I have written to the IVA company and asked if they could suspend or reduce our payments to them so that we can catch up on our mortgage arrears, i am still awaiting their reply. My husband has thankfully now found work.

 

I would be most greatful if anyone could give me some advice as all this worry is genuinly making me feel ill.

 

thank you all in anticipation

[OLIVE.FAMILY]

Hi Emily, How ong have you had your mortagage for? and who said you cannot claim on the PPI? For 3 missed payments you will be fine. The Mortagage company will prop get a suspended possesion order. You will need to attend court for this when you can then make an AFFORDABLE offer of payment. When the mortgage co declined the offer was in this in writing? Sorry i know there are a lot of questions.

 

Please don,t worry we are all here to help you

 

olives xx

[Bona]

Dont worry to much im sure we can all help you need to do a budget sheet and then make a sensable offer in writing to GE Money even if its just a token when you get a court date we can put in a defense and a good case for you keeping your house Ell-enn is great at doing those

Bona

[Ell-enn]

Hi there, as the others have said above, best thing at the moment is to get an offer to them in writing enclosing a budget sheet. They may want you to pay £217 per month towards the arrears, but if you don't have it - they can't get it and they are being unreasonable!

 

If they do take this to court the judge will see that you have tried to come to an arrangement that you can afford.

 

No judge will give the lender possession at the first time of asking as long as you can show that you have an income and can pay even a small amount towards the arrears - you will be OK.

 

I have affixed a budget sheet for you to complete, once you have done that you will see how much you really can afford to offer. Let me know when you have done that and I can draft a letter to go with it.

 

Try not to worry too much - I know it's hard but if you read around the Repossession Forum you will see people who were in a much worse situation than yourself and they have kept their homes.

 

Kind Regards

 

Ell-enn

Budget Sheet.xls

[Emilybeckett]

Hi all, thank you so much for your advice and support, i really appreciate it. Thanks you Ell-enn for the attatchment, i will duly complete this and then let you know when i have done this. thanks so much

[Emilybeckett]

Hi Olives, sorry i didnt reply in full, i am fairly new to this. We have had the mortgage for 4 years and our deal ran out with them in Aug 08 but have been unable to secure another mortgage elsewhere. The original mortgage was with I Group who obviously sold it to GE. On our original paperwork, it said that at the end of the term, our payments would be reduced by about £100.00 per month but GE haven't done that and our rate is 10% above the current baserate!! As for the Payment Protection, this ran our in July 08 and the new quote they sent me had doubled, so i shopped around and got a cheaper one, then my husband got laid off in August!! The company said we needed to have the policy for 150 days before we could make a claim and asked me if i knew he was going to be laid off to which i replied "no as that would be fraud"!

 

many thanks for your support

 

Hi Emily, How ong have you had your mortagage for? and who said you cannot claim on the PPI? For 3 missed payments you will be fine. The Mortagage company will prop get a suspended possesion order. You will need to attend court for this when you can then make an AFFORDABLE offer of payment. When the mortgage co declined the offer was in this in writing? Sorry i know there are a lot of questions.

 

Please don,t worry we are all here to help you

 

olives xx

[Emilybeckett]

Hi Ell-enn,

 

i have almost completed the budget sheet now, i am having difficulty in completing my husbands wages as he was laid off in August and received two JSA payments. He started work two weeks ago and it is really difficult working an average out:???:

 

Hi there, as the others have said above, best thing at the moment is to get an offer to them in writing enclosing a budget sheet. They may want you to pay £217 per month towards the arrears, but if you don't have it - they can't get it and they are being unreasonable!

 

If they do take this to court the judge will see that you have tried to come to an arrangement that you can afford.

 

No judge will give the lender possession at the first time of asking as long as you can show that you have an income and can pay even a small amount towards the arrears - you will be OK.

 

I have affixed a budget sheet for you to complete, once you have done that you will see how much you really can afford to offer. Let me know when you have done that and I can draft a letter to go with it.

 

Try not to worry too much - I know it's hard but if you read around the Repossession Forum you will see people who were in a much worse situation than yourself and they have kept their homes.

 

Kind Regards

 

Ell-enn

[Ell-enn]

Hi there, you should complete the budget to show your income going forward now your husband has a new job and you are making an offer to make payments towards the arrears when he has completed a full month at work. Take his week's pay multiply by 52 and then divide by 12 - this will give you what his monthly pay will be

 

You need to make sure that what is left over after everything has been accounted for is the amount you can easily afford to pay towards the arrears on top of the normal monthly payment. Don't offer an amount you think they want - offer what you can easily afford. Remember utility bills will be higher at this time of the year and the children (and yourselves) will need winter clothes.

 

If you can afford £100 per month OK, but if not reduce it.

 

Ell-enn

[OLIVE.FAMILY]

Ok Emily, Do what Ell says and get your home safe first then you can deal with PPI.

 

I am sure you will be fine. 3 months really is not alot, as long as you can show that you can maintain payments from now on

 

olives xx

[Emilybeckett]

thank you so much for your advice. I am not sure how to word the letter to the mortgage company enclosing the new budget sheet. Should i just tell them that we canno't afford to pay what they want towards the arrears plus the full monthly payment?

 

thank you xx

[Ell-enn]

Hi Emily, give me an hour or so (I'm at work at the moment) and I'll draft a letter for you. How much are you going to offer on top of the monthly payment?

 

Ell-enn

[Emilybeckett]

Hi Ell-enn, you are so kind. We are going to offer £100.00m per month, that really is all we can afford. I know it should be the last thing on our minds at the moment but with having two children i just cant stop worrying about Christmas! my mind is on overload today, please dont get into trouble at work!!

 

thank you very much

[Ell-enn]

Don't worry - I won't get into trouble at work. Are you sure you want to offer £100 per month? How much are the arrears in total? if it's only 3 months I'm sure you could offer £50.00 per month and you should work Christmas into your budget sheet;)

 

Affixed is the letter - you need to fill in your address, the mortgage co's address, the mortgage account no, and also where I have put XXX's for your name and amount you want to pay. Make sure you keep the letter on one page.

 

Make sure you keep a copy of the letter and the budget sheet and send by recorded delivery (make sure you send to the right department, even if you have to phone up and get the right address). Keep the receipt for posting and then check on the Royalmail website a few days later to print off the signature - keep that safe with the copy of the letter, you may need to prove later that they got it!

 

Any questions, just shout.

 

Ell-enn

Emilybeckett letter 22.10.08.doc

[Emilybeckett]

thank you Ell-enn you truly have been sent from up above x. I will re-do the budget sheet and put Christmas in there, and hopefully that minght leave us enough to get some felt tip pens and a colouring book for the kids!!! £50.00 a month is more realistic. Just one more thing, sorry, do i fill out the defence form when we get the court date?

 

once again many thanks

[Ell-enn]

Come back on here when you receive the court papers and I will guide you through them. With any luck you won't get a hearing date till after Christmas - usually when the court papers arrive they have a hearing date around 6 - 8 weeks later - so if they don't proceed to court for another couple of weeks you should be OK.

 

Ellx

[Emilybeckett]

ok thanks Ell-enn i feel much better about all this now with your help and support. I will contact you when the papers arrive. Take care in the meantime.

 

Emilybeckett

[Emilybeckett]

Hi Ell-enn, looks like i spoke too soon, the court papers have arrived and the hearing will be on the 10th November. I am realy panicking now as i haven't done the defence or anything. On the papers, there is a username and password so i can complete the forms online, would i be better doing it that way or handing the papers into Court?

 

many thanks

 

Emilybeckett

[Ell-enn]

Hi there, no - don't complete the forms online, it has been known for them to go missing and we need to put some attachments with them.

 

You should still send the letters to the lenders, that way you can prove you have tried to come to an arrangement and we can use the letter as part of your defence.

 

I will start to draft a statement for Q 27 of the N11M defence form you will have received with the court papers - 10th November is a bit quick for a hearing if this is the first time they are instigating possession proceedings:(

 

When you fill in the income and expenditure part of the N11M make sure you have the same information as you have put on your budget sheet. It is a good idea to take a photocopy of those pages to "practise" on first so you get the figures right.

 

Ell-enn

[Emilybeckett]

thank you Ell-enn. I will do all you say and photocopy everything three times, just to be on the safe side!! As the mortgage company put our rate up to 10% when our deal ended in august, should i ask them to reduce it in the letter? We have paid £48000.75 in the last four years,(mortgagte is 106.000 we really dont live in a mansion) it is interest only as well!!! it really hurts, they will not be happy until they have squeezed every last drop out of us.

 

thank you so much for your help, my head is spinning.........

[Ell-enn]

Hi there, I understand you must be feeling stressed at the moment, but please try to stay positive and focus on what we need to do. There is no harm in asking them to pass on any rate reduction (if that is what your mortgage contract says they should do). Get the letters off tomorrow by special delivery and then we'll concentrate on the court papers.

 

Ell-enn

[Emilybeckett]

thank you Ell-enn i will do that tomorrow.

[Emilybeckett]

I Ell-enn, i have sent the letter off to the mortgage company today, special delivery. I am getting really worried about the court papers / defence now. I know you are really busy but could you help me.

 

many thanks

[Ell-enn]

Hi there, no problem - I'll start to draft a statement for Q.27 of the N11M. Are there any other parts of the form you need help with?

 

Ell-enn

[Emilybeckett]

thank you so much, i dont think so at this point but i will let you know if i get stuck if that's ok.

 

thanks

[Ell-enn]

Hi there, affixed is your statement for Q.27 of the form. In the box at Q27 you need to write "please see affixed sheet".

 

On the top of the statement you need to fill in the Claim No and also your names. Where I have put XXX's you need to enter the details.

 

You will see I have referred to Appendix 1 - this is the letter and budget sheet you sent yesterday, so you need to affix a copy of that. On the top of both the letter and budget write the Appendix number on the top left hand corner and Appendix 1 on the top right hand corner.

 

When you fill in the income and expenditure parts of the N11M make sure it agrees with what you put on the budget sheet you sent.

 

Take a copy of all of it before you hand it in to the court.

 

Any questions, just shout

 

Ell-enn

Emilybeckett Q.27.doc