Hi Guys

Long story short, in January we got a repo order suspended on our house for arrears including fees of £9,500.

I have just received notice that my lender has asked for this to be actioned again and I am awaiting a date for eviction from the court.

The original agreement was CMP + £200 which totalled £1156.07pm.

Last month I could only pay £530 towards my mortgage (May) and have informed them that I shall be paying this months (June) plus the balance by the 16th but this appears to have fallen on deaf ears.

The mortgage details are;

Lender: Mortgage Resolution Limited

Type: Interest Only

Rate: Fixed @ 9.51% until 08/10

Monthly CP: 956.07

Towards arrears: 200.00

What should I do?

1 When the notice arrives put in an N244 on what grounds?

2 Apply to my council for a MRS (wife is 6 months pregnant)

3 Ask the lender for a reduction in interest rates?

4 Resign myself to the fact that as this will be the third time at court I have no chance at all?

Family details:

2 kids, 3rd on way, in receipt of WTC incl CTC of £920pm and wife earns £500-£600pm (fully declared). I am on DLA (lower rate).

Thanks in advance

Hi Guys

Long story short, in January we got a repo order suspended on our house for arrears including fees of £9,500.

I have just received notice that my lender has asked for this to be actioned again and I am awaiting a date for eviction from the court.

The original agreement was CMP + £200 which totalled £1156.07pm.

Last month I could only pay £530 towards my mortgage (May) and have informed them that I shall be paying this months (June) plus the balance by the 16th but this appears to have fallen on deaf ears.

The mortgage details are;

Lender: Mortgage Resolution Limited

Type: Interest Only

Rate: Fixed @ 9.51% until 08/10

Monthly CP: 956.07

Towards arrears: 200.00

What should I do?

1 When the notice arrives put in an N244 on what grounds?

2 Apply to my council for a MRS (wife is 6 months pregnant)

3 Ask the lender for a reduction in interest rates?

4 Resign myself to the fact that as this will be the third time at court I have no chance at all?

Family details:

2 kids, 3rd on way, in receipt of WTC incl CTC of £920pm and wife earns £500-£600pm (fully declared). I am on DLA (lower rate).

Thanks in advance

Hi Guys

I am just about to write (recorded delivery) to my lender are request a reduction in the fixed interest rate.

It currently stands at 9.51% and their sub-prime variable (according to my T&C's) is the BOE rate (0.5% at the mo) + 5.5%

In effect, this is how it may impact on my mortgage payments...

CURRENT:

Fixed until 17.08.10 - MCP = 951.07

PROPOSES (at 6.0%)

Variable at 6.0& MCP = 600.01

Why am I doing this? Because they are about to start repo proceedings against me and this would not only allow me to stay in my home BUT it would also help me clear my arrears faster.

In addition, it is a rate I would be on in 12 months anyway.

Any advice on this matter, any precedents to quote? Or have I got ne chance whatsoever.

TIA

This is scream M.R.S.

Get yourself down to your local council office with your legal letters.

Do you know what you LTV on your property is..ideally it needs to be 79% or less but your council will decide.

Good Luck

This is scream M.R.S.

Get yourself down to your local council office with your legal letters.

Do you know what you LTV on your property is..ideally it needs to be 79% or less but your council will decide.

Good Luck

A scream?

Do you mean its my only option?

I have just spoken to them and requested (will back up with a letter) them to see if they can switch me to there variable and that is currently trading at 4.21%. (I pay 9.51% currently)

LTV at 79% would mean that I fall £5k short currently.

They also stated that if I pay up 1780.82 by the 22/06 they 'might' stop the action.

I am in the pooh

A scream?

Do you mean its my only option?

I have just spoken to them and requested (will back up with a letter) them to see if they can switch me to there variable and that is currently trading at 4.21%. (I pay 9.51% currently)

LTV at 79% would mean that I fall £5k short currently.

They also stated that if I pay up 1780.82 by the 22/06 they 'might' stop the action.

I am in the pooh

Just to update

I have spoken to them and their rate is 4.21% which would mean a drop of over £500 on my MCP.

Any ideas as to how I should word the letter?

TIA

Hi Battler - all is not lost (unless you give up fighting!)

So - what did they say when you asked to be put on their variable rate? Do you need any help with a letter to send to them?

Also - given your circumstances have you contacted Shelter? (they're not just for homeless) they may be able to exert some influence on the lender and offer help if you have to go to court again to defend eviction. Their free helpline is 0808 800 4444

I'm more than happy to help you with a N244 submission, but give Shelter a ring first and see if they have any other options for you.

Kind Regards

Ell-enn

Hi Battler - all is not lost (unless you give up fighting!)

So - what did they say when you asked to be put on their variable rate? Do you need any help with a letter to send to them?

Also - given your circumstances have you contacted Shelter? (they're not just for homeless) they may be able to exert some influence on the lender and offer help if you have to go to court again to defend eviction. Their free helpline is 0808 800 4444

I'm more than happy to help you with a N244 submission, but give Shelter a ring first and see if they have any other options for you.

Kind Regards

Ell-enn

Hi Ell-enn

To answer in order

1 Not given up yet but feeling pretty damn low I must admit

2 They said they would address the letter when I send it, so any help on that front would be greatly appreciated

3 Not rang them yet but will do so this afternoon, thanks for the tip

4 Not got a listing date yet so the N244 will apply later no doubt.

Ran through a budget sheet with them today and I can meet the mortgage payment and arrears JUST after all else has been taken into consideration and I fall about 500 short of the catchup amount but I am working on that too.

If they could pop me on variable it would be great for both parties and IMHO it would be a logical last chance scenario but I do not hold out much hope...

The reason I fell behind was my wifes car cost us £700 to fix and she needs that to get to and from work.

TIA

Hi Ell-enn

To answer in order

1 Not given up yet but feeling pretty damn low I must admit

2 They said they would address the letter when I send it, so any help on that front would be greatly appreciated

3 Not rang them yet but will do so this afternoon, thanks for the tip

4 Not got a listing date yet so the N244 will apply later no doubt.

Ran through a budget sheet with them today and I can meet the mortgage payment and arrears JUST after all else has been taken into consideration and I fall about 500 short of the catchup amount but I am working on that too.

If they could pop me on variable it would be great for both parties and IMHO it would be a logical last chance scenario but I do not hold out much hope...

The reason I fell behind was my wifes car cost us £700 to fix and she needs that to get to and from work.

TIA

Hi there, I'll draft you a letter and put on here ether tonight or tomorrow so you can post it to them recorded delivery on Monday:)

Ell

Hi there, I'll draft you a letter and put on here ether tonight or tomorrow so you can post it to them recorded delivery on Monday:)

Ell

Many Thanks Ell

I appreciate the effort.

Kindest Regards

Many Thanks Ell

I appreciate the effort.

Kindest Regards

Hi Ell

Did you manage to draft a letter yet?

Sorry to bug you but I am struggling with what to compose.

TIA

Hi Ell

Did you manage to draft a letter yet?

Sorry to bug you but I am struggling with what to compose.

TIA

Sorry - I got waylaid with another case - will do the letter and post up this evening.

Sorry - I got waylaid with another case - will do the letter and post up this evening.

Hi there, apologies for delay. Letter affixed - you should send by recorded delivery, keep a copy and also the proof of posting so you can check on the Royalmail website in a few days to print off the signature receipt. Keep all safe together.

Also affixed is the budget sheet we use, you need to send that with the letter.

Ell

Battler 1966 letter June 09.doc

Budget Sheet.xls

Hi there, apologies for delay. Letter affixed - you should send by recorded delivery, keep a copy and also the proof of posting so you can check on the Royalmail website in a few days to print off the signature receipt. Keep all safe together.

Also affixed is the budget sheet we use, you need to send that with the letter.

Ell

Battler 1966 letter June 09.doc

Budget Sheet.xls

Hi Ell-enn

Thanks for the letter, alas they said a big fat NO.

Also, I am now due for eviction on the 8th July and I am putting in my N244 tomorrow.

My defence facts are going to be this and any additional advice or wording would be appreciated (these are in no particular order)

1. My wife is 7 months pregnant
   
2. I have now been granted £900 a month WTC as I am now working for myself after losing my job due to disability (chronic ulnar pulsey)
   
3. My wife earns £700 per month and I will add the P60 as evidence
   
4. I am now classed as disabled (have the letter from DWP and will add it to evidence)
   
5. I have tried to converse with the mortgage company and get changed to variable which would be £700 les per month
   
6. I can meet the CMP plus £200 off the arrears until we switch to variable in 12 months...will show this in a budget sheet
   

Is this going to be me a chance? It will be my third hearing, will they throw it out and would it be best to go in represented by one of the courts money advice guys?

TIA

Hi Ell-enn

Thanks for the letter, alas they said a big fat NO.

Also, I am now due for eviction on the 8th July and I am putting in my N244 tomorrow.

My defence facts are going to be this and any additional advice or wording would be appreciated (these are in no particular order)

1. My wife is 7 months pregnant
   
2. I have now been granted £900 a month WTC as I am now working for myself after losing my job due to disability (chronic ulnar pulsey)
   
3. My wife earns £700 per month and I will add the P60 as evidence
   
4. I am now classed as disabled (have the letter from DWP and will add it to evidence)
   
5. I have tried to converse with the mortgage company and get changed to variable which would be £700 les per month
   
6. I can meet the CMP plus £200 off the arrears until we switch to variable in 12 months...will show this in a budget sheet
   

Is this going to be me a chance? It will be my third hearing, will they throw it out and would it be best to go in represented by one of the courts money advice guys?

TIA

Hi there, you are right to put in an N244, especially if you can show you are able to pay something towards the arrears.

You will need a copy of the letter you sent and their reply to go with the N244. I can help you draft a statement for Q.10 of the N244 which is the most important part. I can do it this afternoon/evening if you want me to?

Ell