Arrears

[jh35]

Hi, i really need some help, i have mortgage arrears of around 8 months, i made an agreement with the Natwest bac in July or August saying i would make the next 6 months on time, i made i payment in sepember. None since, i have arrears of £5631, and now received a letter from there solicitors saying i have to

a, find alternative mortgage

b, pay the arrears

c, start aying and they will do a susended order on y house,

 

i am worried sick, i darent tell my family and feel that there is no end to my worries.

[jh35]

Please help, 8 month arrears paid 1 in September, after i had agreed to a 6 month plan in July, i hav received letter from solicitors saying they are going fr repossession on my house, i dont know what to do

[**Tilly**]

Hi jh35

 

Welcome to cag

 

Start a thread here Mortgages and Secured Loans

 

you will get all the help and advise you need, good luck

 

 

 

 

Tilly

[Ell-enn]

Hi there, just need a little more info before we can adviser further:

 

What was the reason for the arrears?

What was the payment plan you agreed to in July?

How much can you afford to pay each month towards the arrears in addition to your normal monthly payment?

Is the mortgage in joint names and do you have any children?

 

Once you have answered the above, we can then get to work on what to do next.

 

Try not to worry too much, there is usually something that can be done.

 

Kind Regards

 

Ell-enn

[jh35]

I went self employed in March, the business didnt take off as well as i planned, I agreed to pay additional £40 on top of my £636 per month, i got the dates wrong and paid the first one in September, with another one to follow this month, first one should have been August.

i can now afford the payments or just about.

Single mortgage and i have 1 daughter and my dad which lives me whois not very well.

 

The solicitors letter was dated the 17th October, only received it today, i have phoned them telling them this, and awaiting there call, i realy dont want to got t court but i cant raise the arrears.

 

Any help would be appreciated

 

Jh35

[jh35]

Hi guys any news yet?

 

Please i am so worried could do with re assurance so at least i can get a nights sleep.

 

J

[Ell-enn]

Hi there - I've not forgotten about you:)

 

Please try not to worry too much - you are a long way from repossession at the moment and there is still a chance that you can negotiate with them. If you have an income and can make payments towards the arrears you will not lose your home.

 

You say you are waiting for a call back from them - what did you say when you called?

 

When you speak to them again you should refer them to the Civil Justice Council Consultation Paper - Mortgage Arrears Protocol whereby lenders are required to consult with customers who are experiencing difficulties to try to come to an arrangement. Court action is to be a last resort, not a first action.

 

From now on, lenders will have to prove to a court that they have explored alternatives to court action which have not been successful.

 

 

Ell-enn

[MARTIN3030]

2 threads merged.

[jh35]

Hi

 

They are calling back today, i am also going to speak to Natwest today also. Will keep you informed later.

 

J

[jh35]

Hi there,

 

I have spoke to NATWEST what a helpful bunch they are not. They have basically said that they are going for a possession order, which wont be enforced if i keep the payments up, they hve also told me that i could go to interest nly for 6 months, which would be an unconditional reposession order, dont know anything about this, i was advised by threre solicitor that i could ask them to ajourn, which theywont do, they are also saying because i havent contacted them thay cant do anything to ajourn it.

 

Also, if i keep my payments upfor 6 months, Litigation will pass it back to the mortgage centre, and then i can go on a interest only mortgage. Totally baffled by this, they say one thing then mean something else, also if i pay the arrears by the court date, which hasnt ben set yet, they will ajourn it, the arrears ar now £6200. Please help me clarify this.

 

J

[jh35]

AT LONG LAST, Natwest and the second person i have spoke to all proceddings hae been ajourned, and new payment schedule set up, thnks to a certain gentlemen within Natwest. I am so happy, there s light at the end of the tunnel, i would like to thank Ell-enn,

 

Advice to all, speak to them and ask them to ajourn, they can be symathetic, the lady i spoke to originally not help ful, the gentlemen was wonderful. And at the end of the 6 months my mortgage will be transferred back to the mortgage centre, and they will put me on a better rate.

 

I quoted the new legislation from yesterday, and it helped, they didnt know anything about it..

 

Yippee,

[Ell-enn]

Hi there, that's good news - well done for taking them on !

 

Make sure you get all that they agreed in writing as the contents of telephone conversations can't be proved.

 

Trust you can relax a bit now

 

Ell-enn

[jh35]

.....

Edited October 23, 2008 by Ell-enn
duplicate post

[jh35]

i cant thank every one enough for there support and help. If i can nbe of further assistance with dealing with natwest please let me know....