Oakwood or Engage

[iconoclash]

Hi - does anyone know whats going on with Oakwood?

 

 

Dont seem to have a web site anymore and cant find info on Engage Credit (part of their co.)

 

 

I think Edeus 'went under' and I know Oakwood are capitalising their mortgage book.

 

 

Reason I'm wondering what's afoot is because I've been offered to have my arrears capitalised

- however - my arrears and payment terms have been set up by the court

and yet there is no mention from Oakwood as to how I will get rid of the court order and who will pay that cost

 

 

- I will end up paying more per month,

as they say in their letter: i

nterest is payable on the new total (if I agree)

and that I should seek independant advice first.

 

 

Hmmm - so if I agree on condition that they do the court bit?

 

 

Is this offer because of the fine Credit Suisse got

or is there a new case coming up against the sub-prime lenders?

 

 

I wanted them to capitalise in the beginning but they took me to court

and added huge legal fees for that so why are they now back-pedalling? thanks

[ohitsonlyme]

Hi - does anyone know whats going on with Oakwood? Dont seem to have a web site anymore and cant find info on Engage Credit (part of their co.) I think Edeus 'went under' and I know Oakwood are capitalising their mortgage book. Reason I'm wondering what's afoot is because I've been offered to have my arrears capitalised - however - my arrears and payment terms have been set up by the court and yet there is no mention from Oakwood as to how I will get rid of the court order and who will pay that cost - I will end up paying more per month, as they say in their letter: interest is payable on the new total (if I agree) and that I should seek independant advice first. Hmmm - so if I agree on condition that they do the court bit? Is this offer because of the fine Credit Suisse got or is there a new case coming up against the sub-prime lenders? I wanted them to capitalise in the beginning but they took me to court and added huge legal fees for that so why are they now back-pedalling? thanks

 

Oakwood formerly Edeus have recently sold my Mortgage to Mars Capital who are a lot more aggressive in their approach to arrears, I am currently fighting off a possesion order(6Nov09) even tho they offerd me a 15% reduction on the total balnce to remo with someone else or I suppose sell up. I suspect thye are trying to offload as many potentially weak mortgages I dont understand securitisation but I think they are doing the same as credit card companies and selling to companies further down the feeding chain and writing of the losses for tax reasons.

Ohitsonlyme

[iconoclash]

Hi - yes, Mars Capital formerly known as Pebble HomeLoans - set up in Jersey I think, incorporated 2006. Not sure if a mortgage can be sold on to these guys or any others if there is an arrangement in place - particularly if set by the court. Re your fighting off posession order: you should get more sense from the judge than the company and it might be easier to have the court decide what you can and cant pay - also the terms of your mortgage should have remained the same when sold to Mars - they cannot vary these. If you have an agreement with Oakwood about your arrears they have to keep to it and if they are being "aggressive" they are acting outside various regulations. Are they threatening or is it going to court now??

[ohitsonlyme]

Hi - yes, Mars Capital formerly known as Pebble HomeLoans - set up in Jersey I think, incorporated 2006. Not sure if a mortgage can be sold on to these guys or any others if there is an arrangement in place - particularly if set by the court. Re your fighting off posession order: you should get more sense from the judge than the company and it might be easier to have the court decide what you can and cant pay - also the terms of your mortgage should have remained the same when sold to Mars - they cannot vary these. If you have an agreement with Oakwood about your arrears they have to keep to it and if they are being "aggressive" they are acting outside various regulations. Are they threatening or is it going to court now??

 

It is going to court on 6th Novemeber I have got a fairly strong case to put together as they have added all the charges onto the arrears and I have no worries about the hearing

I do want to fight them off not with just getting it suspended but thrown out so that I dont have to pay any solicitors costs, they havent followed the various codes of conduct and are still negotiating with me to settle for less than is owed, I will also try to get in about securitisation and ask if they have the authority to process the action any way.

 

We caggers must stick together to get these people off our backs and let us get on with our lives.

Until the banks screwed up 18months ago I had a very succesful property business and am only just getting back on track without their help by working my butt off and fighting them on unenforcable actions,

they dont play fair so I dont see why I should simply bend over and take it where the sun dont shine.

 

Any tips or ideas will still be very useful.

Ohitsonlyme

[jansus]

You could try a pm to enoughisenough - seems to know a lot about securitisation and sale of loans