#repossessions : Mortgage shortfall £37376.00!!!!

[BeautyQueenFromMars]

Hi all, I'm a new poster so please bear with me. My husband had a mortgage on a house when I met him. After a while he moved in with me (rented) and let his house out. We had a few nightmare tennants ending with the final one that just refused to pay anything. At the time we couldnt pay for both houses and the mortgage fell into arrears. The house was repossessed early last year. We didnt receive any paperwork or letters about the house and kind of burried our heads in the sand. A couple of weeks ago hubby received a letter from the mortgage company saying he owed £37376.00 for the shortfall. Now, as much as we would love to pay it and be done with it, we funnily enough dont have that sort of cash!! I have sent them a letter asking for the proof of how they got to that figure but am pretty sure its about right He really doesnt want to go bankrupt as that obviously means no money for the next 3 years and with 3 kids to look after its not fair that they should suffer. Do you think we would have a chance of getting a reasonable full and final settlement? Every option we look at scares us, I havent slept and hardly eaten since we had the letter. We are still renting and dont own a car or have any other assets but we do have quite a healthy surplus monthly. Any advise greatly received!! x

[Lea_HTH]

You can make an offer to pay monthly, or you can make an offer to pay a lump sum in full and final settlement (if you have sufficient money to do that).

 

Unfortunately the mortgage company are entitled to chase your husband for 12 years to settle this debt, so the sooner it is sorted out, the better for you.

 

Most companies are willing to negotiate, and most would prefer a lump sum, even if less than the full amount, as it is cheaper for them to take less money than spend the next goodness knows how many years chasing your husband for monthly payments.

 

Offer what you can, and then take the negotiations from there - do not expect them to accept your first offer, they will undoubtedly try to push you right up to the full amount.

[BeautyQueenFromMars]

Does anybody have any idea of what sort of figures they would settle for? Do you think they would take 20% ?

[Lea_HTH]

Does anybody have any idea of what sort of figures they would settle for? Do you think they would take 20% ?

 

 

No, they won't. It's too little.

 

And, whilst I appreciate you are probably stressed about all this, a little politeness when people respond to you would not go amiss.

[BeautyQueenFromMars]

No, they won't. It's too little.

 

And, whilst I appreciate you are probably stressed about all this, a little politeness when people respond to you would not go amiss.

 

Oh my, how friendly! How exactly was I not polite? Because I didnt take the time to thank the person who replied. There was me thinking the point of the forum was to offer advice to people in need not moan at them for the way the phrase something when trying to feed a 4 month old baby with one hand and type with the other. Well thank you very much for your input, I will be off now and wont disturb you with my rudeness again.

[Lea_HTH]

Oh my, how friendly! How exactly was I not polite? Because I didnt take the time to thank the person who replied. There was me thinking the point of the forum was to offer advice to people in need not moan at them for the way the phrase something when trying to feed a 4 month old baby with one hand and type with the other. Well thank you very much for your input, I will be off now and wont disturb you with my rudeness again.

 

So, instead of now saying 'thank you' when it was pointed out to you that you were impolite, you instead throw a hissy fit and stomp off?

 

The forum is for advice, but people tend to stop helping when people are too damn lazy to type the words 'thank you'.

 

Hopefully you have the information you required to assist you, even if you were too impolite to be grateful for it.

[marie6666red]

Lea

how rude are you!!!!!this forum is for help....not grovelling thanks.....the sender said help was very much appreciated.....what more??????? Makes the site look wary!!!shame on you

[Lea_HTH]

Lea

how rude are you!!!!!this forum is for help....not grovelling thanks.....the sender said help was very much appreciated.....what more??????? Makes the site look wary!!!shame on you

 

Shame on you for not realising that people give help out of the kindness of their hearts and that a 'thank you' goes a long way to ensuring that those self-same people will return time and time again to help others.

 

At no point did the OP say 'help was very much appreciated'. Don't make things up. She launched into her next set of questions without even acknowledging the advice given to her thus far. That's impolite, no matter how you look at it.

 

Any further impolite remarks simply loses the site a lawyer who was giving her time and advice for free.

[dcahelp]

Lea,

 

your help is very much and eternally appreciated, dont let any one tell you otherwise.....

 

For those who cant/wont say it....

 

THANK YOU FOR TAKING THE TIME!!!!!

[Lea_HTH]

Lea,

 

your help is very much and eternally appreciated, dont let any one tell you otherwise.....

 

For those who cant/wont say it....

 

THANK YOU FOR TAKING THE TIME!!!!!

 

That's very nice of you DCA. I don't do it for the thanks, but I really just don't get why anyone would be too impolite to simply say 'thanks' when someone replies to them with help - and then when their impoliteness is pointed out to them, they go off on one. That just doesn't make sense to me.

[bluedogx]

Lea

 

I've read a lot of your posts and your help is invaluable.

 

B

[dcahelp]

Stressed out mum me thinks............. been there done that, my home was repod when my baby was 4 and a half months old..... Stressed was not a big enough word...... Having said that ps an qs cost nothing!!!!!

[Lea_HTH]

Thanks Bluedog

 

DCA: Yes, I realised she was probably stressed, and I even made reference to that when I pointed out her impoliteness...she had an opportunity to correct herself and chose not to do so.

 

Fortunately I'm not churlish enough to pack up my toys and leave the playground, so I'll be around to offer help to anyone who has a situation that is a bit outside the norm (other posters around here are EXCELLENT with their advice).

Edited April 11, 2011 by Lea_HTH

[ITDonk]

 

Any further impolite remarks simply loses the site a lawyer who was giving her time and advice for free.

 

:violin:ZZZZZZZZZZZZZ

 

Get off your high horse, she wasnt even rude, its an internet discussion forum not real life if people said thanks to every single post the forums would be clogged up with pointless postings. Instead your crappy attitude scared off a vunerable new poster who could have benefitted long term from people who are happy to help without having to have every post they write validated.

 

Attitude like shown in your posts make people not want to post which is against everything forums like this are setup for.

 

Theres many professionals on these forums giving their time for free but dont bleat on about it.

[PriorityOne]

No, they won't. It's too little.

 

And, whilst I appreciate you are probably stressed about all this, a little politeness when people respond to you would not go amiss.

 

That is incorrect... sorry.

 

I went through a similar scenario and settled for less than 2%

[Lea_HTH]

:violin:ZZZZZZZZZZZZZ

 

Get off your high horse, she wasnt even rude, its an internet discussion forum not real life if people said thanks to every single post the forums would be clogged up with pointless postings. Instead your crappy attitude scared off a vunerable new poster who could have benefitted long term from people who are happy to help without having to have every post they write validated.

 

Attitude like shown in your posts make people not want to post which is against everything forums like this are setup for.

 

Theres many professionals on these forums giving their time for free but dont bleat on about it.

 

She was impolite. Simple as. If you cannot see that, then clearly your standards are lower than mine and that is not my problem, it's yours. Where I come from if someone assists you, you say 'thank you' before launching into asking for even more help.

 

And it IS real life - unless these people are coming on here and posting utter drivel, then their situations are real, and they need real help, not platitudes telling them 'there there it'll be all right'.

 

It doesn't matter if she comes back or not, she got the advice she needed. Likewise it doesn't matter if I come back, or if you come back; I am sure the site will go on without any one individual. I don't need validation from a faceless online entity - what I do require is politeness, which is what anyone using a site asking for help should afford those helping them - it costs them nothing.

 

This is my last post on the matter of her impoliteness - there is little point in me wasting time 'discussing' it with you, or anyone else. In fact, I won't be returning to this thread at all, since it's subject matter is dealt with.

Edited April 13, 2011 by Lea_HTH
Added the final sentence.

[Lea_HTH]

That is incorrect... sorry.

 

I went through a similar scenario and settled for less than 2%

 

I am sure there are plenty of anecdotal stories that will support your experience, but in my experience (several hundred cases) that's not the case.

[PriorityOne]

I am sure there are plenty of anecdotal stories that will support your experience, but in my experience (several hundred cases) that's not the case.

 

Anecdotal? I put it down to having lived through the experience.

 

When I saw a solicitor about it first off, his advice was cack.... which is why I handled it myself. Mine is not an isolated case either and it's very possible to negotiate a low F&F.

 

Edited April 13, 2011 by PriorityOne

[marie6666red]

when i commented i was not trying to be obnoxious....the poster stated her case, said she had 3 kids one which was 4 months old and the sword of damaclees hanging over her head.....i lost my home twenty years ago, and believe me good manners are quite low on the agenda. you cant even think straight....just paralysed with fear of the unknown....she did say in her original post any advice greatly appreciated.....

obviously this is not enought to feed some egos....hey ho. this site is invaluable to thousands of people....some remeber at the beginning to thanks, some at the end...does it matter so much when they are in such dire straights????

[PriorityOne]

when i commented i was not trying to be obnoxious....the poster stated her case, said she had 3 kids one which was 4 months old and the sword of damaclees hanging over her head.....i lost my home twenty years ago, and believe me good manners are quite low on the agenda. you cant even think straight....just paralysed with fear of the unknown....she did say in her original post any advice greatly appreciated.....

obviously this is not enought to feed some egos....hey ho. this site is invaluable to thousands of people....some remeber at the beginning to thanks, some at the end...does it matter so much when they are in such dire straights????

 

I agree.... it's a terrible experience to go through....

 

I still remember my experience well too..... but I survived it and so did you and it's important for people to realise that there is light at the end of the tunnel.