'Lewis' Field representative visit on CCJ/CO Northern Rock Shortfall

[kgr400]

message to uk aviator, just seen your post to mr worried 9th sept 2340 pm, stop being so negative, the guy wants help, not your doom and gloom comments, help him grrrrrrrrrrr

[Mr Worried]

Bumpety Bump for post 8?????anybody???

 

Cheers

 

Mr W

[Mr Worried]

Hi All

 

WOW, the post fell through the letterbox, and yes its from NRAM advising me that they have enforced possesion and a bailiff will be here soon with the date of eviction, unless we pay full amount of arrears. approx 5k.

 

Ok as I mention above in my choices, do we keep the house, do we let them have it? what about shortfall etc, can I remove my fitted kitchen, bathroom,wardrobes, double glazing, garden sheds, playhouses, carpets etc.

 

Maybe browse post 8.

 

Any advice would be good, but believe me I am in no panick whatsoever as my health and fammily are far more important than the worry.

 

Once we decide what to do, shall / can I apply to the courts for more time to ' move out etc? '

 

Mr Relaxed

[Ell-enn]

Why are they enforcing the order? have you missed payments since the last court appearance ?

[Mr Worried]

Yes, I had the money and decieded not to pay, if we want we could pay the full balance of arrears in 2 weeks but we dont know that we want to remain here? for many reasons,

 

However depending on various things as listed in post 8 we still need to decide what is best for us, especially at this stage, Mrs would prefere to hand the keys back, give it up, and start again.

 

Am I allowed to reclaim the charges that have been levied through the various stages of this saga?

 

Mr W

[martin2006]

At some point soon you will be told when you have to be out by. It appears that this is what you want anyway.

 

I think you need to start looking for somewhere to live pretty quickly, the local housing office, explaining your circumstances should be able to help, after all you will be homeless.

 

with regard to fixtures and fittings, once youve gone they can only repossess what youve left:wink:

 

Bear in mind after all this, they can still pursue you for any shortfall after the house has been sold. I think under mortgage regs this can be for 12 years not 6.

 

I'm not sure if its all too late for you now but if Ell-enn can add any more i'm sure she will.

[Mr Worried]

Thanks for that Martin

 

Mr W

[sillygirl1]

As far as the alleged shortfall goes, don't sign anything admitting to an undisclosed figure, that is a recent tactic, 'sign here and we will allow the sale to go ahead and sort it out afterwards.'

 

Have you thought about asking the local council if they have a 'shared ownership' option, I've found out that some councils have this now and can help for a temporary period.

 

You can take ANYTHING in the house, fixtures and fittings included, after you have gone they will either gut the place and sell it cheap to a developer or let it sit there and they clock up their stupid charges eg £3000 for total clean of property (seen on another mortgage shortfall paper, when asked who did the work, for a copy of the invoice etc the charge was halved.... and still no supporting paperwork provided).

 

They will try to force you out quickly, you could ask the courts for a stay but it would hardly be worth it. When two companies are involved let the second charge company take the property and slug it out with the first charge lot, that is what I did nearly 6 years ago, both companies in my case went into administration shortly afterwards so neither have got any shortfall payment from me.

[Ell-enn]

You know the score by now MrW, they apply for a warrant and you have around 14 days after it's delivered to move out - if you don't apply to the court to have it stopped the bailiffs will turn up on the eviction date, change the locks and that's that. However, I wouldn't advise you to apply for a stay unless you intend to make payment - telling the judge you have the money but decided not to pay as you are looking for somewhere else will not get you an extension.

[coledog]

You have to make contact with the local authority - housing advice, even ring Shelter and get them involved. AND DO NOT TELL them either that you had the money to pay just explain how difficult things are in your current circumstances, you have an irregular income and cannot cope with the situation, apart from giving every last penny you earn to the mortgage companies, leaving you with nothing to live on. Do not give them any grounds to think that you have made yourself homeless and stress any family health issues! There are solutions available to get you alternate accomodation via the local authority or housing associations and I really think that you need to explore these.

[Mr Worried]

Hi All

 

Just an update.

 

Spent a couple of hrs on the phone to various places and I have a meeting with Local Authority this week, and also Private rent landlords group where they pay bond and help with benefits etc.

 

Will give update as soon as I know something.

 

Thanks to all

 

Mr

[Mr Worried]

HELLO I AM BACK.

 

I am getting crossed wires as I have read up on simmilar cases to this thread, however I have not had comms with anybody who has been in the same situation..ie...

 

Hand the keys back, and await the auction, do the auctioneers have to sell for the going price or are they instructed to sell to recoup £58k for Nram.

Then there is the second charge to Future, approx £18k

The value on the market is only £100k -£76k =£24k - sols fees, auction fees and no doubt others fees?

Being realistic, what can I expect from the outcome, and what will the expenses be, can I request balances on both accounts and deduct / claim back the charges etc?

 

Obviously if I did remove my fitted funiture then this would de- value the property? in the auction?

 

Is there a known organisation that maybe specialises within this area? to which I could possibly phone for advice,

 

Cheers

 

Mr

[Ell-enn]

National Debtline are very good on this - they have a section on their website about handing keys back - give them a ring and see what they say

here's a link -http://www.nationaldebtline.co.uk/england_wales/index.php

[Mr Worried]

Thanks for that Ell.

 

Mr W

[Mr Worried]

Morning All

 

Had a chat with National Debtline last night, he was very helpfull, ironed out a few uncertainties yet offered no more than here, if nothing else it was good to chat with a friendly voice. He highlighted the grey areas of handing keys back and explained the shortfall etc. he has given me some usefull numbers to call to which I will do today, I will see what happens over the next few days and probs decide my course of action over the weekend with Mrs W.

 

Cheers to All

 

Mr

[martin2006]

There are a couple of schemes ive heard about, rentwise and letwise, where they will help financially with the depost and 1st months rent in advance but i think its means tested or at least similar, not sure if you have to pay it back though, your meeting will give you all the info.

[philread1]

Sorry to hear of your problems MrW. You are not on your own as you are aware, but I'm in a similar position and looking to sell up and start again but should come out of it with a few quid. I'm with Nram too and their stance on arrears and peoples changing circumstances has changed massively and they seem to be adopting a 'won't help at all' stance to everything now. I think they just want back as much of the money they have lent out now asap and are not will to listen to anything else. I'll be starting a thread soon as I want to buy myself a little time and put my house on the market in January so will be submitting a N244 soon.

 

Good Luck to you and your family in the future, and whatever happens, as you have said in one of your previous posts', your health and that of your familys' is what is most important and that you remain strong together as a unit. All the very best.

 

Phil

[debtdoubter09]

Hi Phil

 

I saw your reply to Mr W and wonder if you could explain a little more about the N244 you mentioned and also share your experience of dealing with this matter because I am in a similar situation and have zero idea of what to expect and how I might delay repossession if at all possible.

 

I have not been to court yet however Northern Rock have written to say that they have passed my case on to their solicitors for court action to be initiated so I wonder how much time that gives me before I am thrown out with my family including my two kids...

 

If I market my property is there a chance that I can delay the repossession order and subsequent eviction?

 

Thanks for any help and info you can offer.

 

Regards

[Ell-enn]

Hi there, can you give a little more background please? are you working? are you able to make the monthly payment plus a little extra each month towards the arrears?

 

If you have not received a possession claim yet you have some time to make arrangements (you won't need an N244 as that is only used to get evictions stopped), you are still at the very first stage of the possession trail and when you receive the claim from the court you will fill in an N11M defence form which comes with it - we can help you with that.

[Mr Worried]

Hi ALL

 

Update tommorow after 4 pm, some negatives some positives and I am relaxed about it all. think I just got sick of worrying. in court Monday afternoon at my request.

 

Mr W

 

Speak tommorow.

[Ell-enn]

What you there for ?

[coledog]

Yes - spill the beans!

[Mr Worried]

Hi All

 

Okay, I was at court today for something toatally different but when I was there I asked the advice of a friend whom is a court usher, he had previously used his poweres to get some free info re evictions etc. however he told me nothing that I/we dont already know, so here is a complete update since the start of this thread.

 

Ok,,,We had an offer from a company that purchase propertys for 80% of their value approx 25k less than its on the market for. they said no costs to us etc.

 

I have asked and sought advice re handing back the keys, or letting eviction take place ( still awaiting eviction date from bailiff ) but the advise I get differs so much?

 

Has anybody on here been in this position and had shortfall etc, how do you pay shortfall, consequences etc?

 

What happens to C O's levied on the property if its sold at auction, agents etc, if there is a shortfall?

 

I have scourced another home for us, and Mrs wants a fresh start, and not to worry about finding £1400.00 pmth for a roof over our heads.

 

Will it be cheaper to advise Nram that we want to hand the keys back? let eviction take place? try to sell at auction for best price, ( end of October.)

 

At this late stage can I request a breakdown of charges etc, to establish arrears, or do I have to accept their charges?

 

Am I allowed, should I be worried, devaluation selling on, if I remove, Fitted Wardrobes, appliances, Garden sheds, carpets etc.

 

In a nutshell I need to know if anybody has experienced the above,

 

I feel that I am going around in circles with this scenario and always fending off the evictions, Myself and Mrs feel its time to get out, in the best way possible wether that is eviction or return of keys, Mrs explained to me this morning that she cant fight anymore and needs an outlet or she may leave herself, with kids, although she has me under no pressure she just cant fight anymore and the area we live is on the downturn, kids are getting older and area is not good for them etc, she is aware of the shortfalls etc and accepts what we have to, but she is sick of working to live, although I got us into this mess, and we have bickered for over 2 yr and she dosent want to fight with each other anymore, and she says our familys health is far more important than the worry she has every day.

 

Mr W

[Ellie1976]

Hi Mr W, hope someone can help with your sitaution and I wish you and you family good luck

E

[coledog]

As you know - I have been in this situation and as I understand it - you cannot sell at a price which will not cover the mortgages owed without the permission of the mortgagees, it is a catch 22. Never had any COs but again they are going to want a cut. I was lucky and managed to sell for just enough to get rid of the mortgages plus their extortionate charges and have £2,000 left when I should have had £20,000 plus but the market was better then. I will tell you though that at the time it was horrendous but just getting out of this situation and a 'fresh start' is extremely beneficial. I could not go with 'buy your house' companies as it did not cover the costs. I regret not challenging the charges, penalties with FOS which I did start to do but was unable to deal with

 

If you get out and leave, the mortgagees will fight over the spoils NR will get first bite and anything left will go to second dog. the ones with COs will probably get nothing.Any debts will revert to unsecured loans and depending on the amount owed it may be worth going BR, again just to get a 'fresh start'.

 

I am a bit concerned that you are looking at an alternative that is £1,400 a month! I could not pay my mortgage as the the sub prime lender increased the payment to £1,200 a month from £750. My rent is now about £400 a month. Your rent should never be more than a third of your income ideally, if it is - you cannot afford it and are going to have problems as you have council tax and other priorities to add on.

 

You can request a breakdown of everything owed and in time you can probably challenge all of this under FOS and the Mortgage Code.

 

And strip the bloody house - down to the lightbulbs!