Mortgage arrears- Kensington. Nervous wreck.

[Fair-Parking]

Tawny - put your house up for auction before November 11. Provided that you accept the figure bid, your mortgage co is bound by law to accept the same amount.

 

You can then come to some arrangement with the new buyer about when you have to leave.

 

However make you sure that you put an application into the court to stay the eviction on the basis that you are auctioning the house.

 

Can't be 100% sure on this, but I'm pretty sure that court will sympathsise with you and grant you extra time.

[OLIVE.FAMILY]

As im getting evicted on Armistice day at 11am on the 11th day of the 11th month will insist on MR baliff and lockeysmithy friend to observe 2 min silence to remember those fallen in battle in all the wars.

Then the proceedings can proceed peaceably.

 

Too right an all

 

xxxx

[Tawnyowl]

Tawny - put your house up for auction before November 11. Provided that you accept the figure bid, your mortgage co is bound by law to accept the same amount.

 

You can then come to some arrangement with the new buyer about when you have to leave.

 

However make you sure that you put an application into the court to stay the eviction on the basis that you are auctioning the house.

 

Can't be 100% sure on this, but I'm pretty sure that court will sympathsise with you and grant you extra time.

Fair parking -left house over 4 weeks ago-glad to be rid-if you find that strange just go back a 20 or so posts-then u will understand.Not interested in house one bit-just want rid -am already in new nest and settled.Break even or shortfall don't give a jot.Going bankrupt.But thankyou for the advice.It has been well thought out and perhaps will help other people in similar positions.

Edited October 16, 2008 by tawnyowl

[**Tilly**]

Hi Tawny

 

Good to hear your settled, maybe that light at the end of the tunnel is finaly beginning to shine

[Tawnyowl]

Just something for people to read on a boring sunday evening,

Mortgage debt advice enquiries rising, say CAB

[wellmeantadvice]

You don't actually have to wait for the bailiff to repossess (as the costs will only be added to the amount you will owe). So you can hand the keys back to the mortgage company (effectively the court order ordered you to give up possession- therefore the bailiff is only necessary if you do not do so voluntarily).

 

This may save additional expense, which may not be relevant if you're going bankrupt, buit it should also avoid any hassle or inconvenience on 11 November.

[Tawnyowl]

mm-good advice i feel-if i hand keys back even now would it not be still making myself intentionally homeless even though moved on-thinking of the future just in case i register in future with the council for housing.Dont want to say i handed keys back to mortgage company.As far as i know even up to last day or two if arrears were paid etc prob could still perhaps stay there.Thankyou for your post.Some more worrying things just found.Perhaps some slightly good news as well.

Negative equity 'affecting 60,000 families a month', report reveals - Telegraph

[wellmeantadvice]

You should not be considered making yourself intentionally homeless, since you actually have a court order ordering you to give up possession- and while you are right, that the mortgage company would in all likelihood allow you to stay in the property if you paid the arrears (and if they did not agree, the court would certainly suspend if the arrears were cleared), from what you said, you are unable to make those payments.

 

There are a couple of approaches you could try if you want to keep the property, but if you have decided that it is not worth it, then surrendering possession as a result of a court order can hardly be seen as a voluntary surrender- it would only mean that the procedure would not necessitate a bailiff.

 

 

As far as the Telegraph article is concerned, I am somewhat sceptical- I thin it would be very difficult for the government to actually interfere with the contracts, so it just sounds like a lot of political bluster to me. That said, mortgage companies seem to be more interested now in coming to arrangements, as they want to avoid situations where there is negative equity and the borrower goes bankrupt, so that the lender has to write off a significant part of the shortfall.

[Tawnyowl]

Y

 

 

As far as the Telegraph article is concerned, I am somewhat sceptical- I thin it would be very difficult for the government to actually interfere with the contracts, so it just sounds like a lot of political bluster to me. That said, mortgage companies seem to be more interested now in coming to arrangements, as they want to avoid situations where there is negative equity and the borrower goes bankrupt, so that the lender has to write off a significant part of the shortfall.

Hadn't thought of it that way really -i suppose perhaps 20 people with say 20k shortfall mounts up-biggest one ive heard of is Tillys shortfall about fifty thousand i believe-bet that will sting Mortgage express slightly-i mean SORRY was bRADFORD AND BINGLEYS OFFSHOOT I BELIEVE-so now is Governments-or has that part of group now been bought from govt by Satandar-who own Abbey-will check wont be mo.Also heard tonight on news forty five thousand repos expected this year wonder how many shortfalls there are in that lot-mmm.Thankyou for your well thought of advice wellmeantadvice-much appreciated,Tawnyowl

Edited October 19, 2008 by tawnyowl

[Tawnyowl]

Bradford & Bingley - Wikipedia, the free encyclopedia

Ah yes was Bradford and Bingleys -nationalised now.I believe savings part sold to santandar- mortgage business in public ownership=wow dont want it thankyou very much.MENTION OF kENSINGTON IN THERE AS WELL-SORRY Hand always slips onto caps when mentioning Kensington-anyway there is all people need to know about Bradford and Bingley on there.Fascinated to know they bought Stan Laurals bowler hat for 2k-wow,

Edited October 19, 2008 by tawnyowl

[Tawnyowl]

Nothing much happened except letter from Kensington saying if you pay arrears maybe we can work something out and another letter from Eversheds saying clear cattle etc out of house before the 11th.No mention of their hefty charges and solicitors costs-no thankyou Kensington-glad to be rid.

[hedgehog0045]

Kensington have just reduced my mortgage payments due to a change in the Bank of England Base Rate which has totally confused me as I thought I was on the LIBOR rate ????

[The GodMother]

Your on what ever rate they want you to be on at the time they choose.

 

At the moment they are trying to help u so your rate has gone down like the BoE rate has.

[OLIVE.FAMILY]

Kensington have just reduced my mortgage payments due to a change in the Bank of England Base Rate which has totally confused me as I thought I was on the LIBOR rate ????

Oh goody that means mine shouldnt be too far behind then

 

olives xx

[OLIVE.FAMILY]

Just thought. I came crashing in to Tawnys thead and ddint even ask how you are keeping Tawny. Hope all is well??

 

olives xx

[Tawnyowl]

Oh goody that means mine shouldnt be too far behind then

 

olives xx

Mine too will come down-for the next 10 days anyway.Till the house is Repossessed.Expect interest rates to come down next meeting by at least half per cent.Or perhaps full point.Gordon Brown is in middle east today asking for some dosh from oil sheiks-cant be that bad can it.MMM now theres a thought what times next plane to Saudi.Tawnys packing ,Ask sheik for loan -just take small suitcase:-D

[The GodMother]

tawny can u make that 2 tickets iam all packed.

[OLIVE.FAMILY]

:DDont forget to mention my name whilst you are there.

[**Tilly**]

room for a liccle one

[The GodMother]

well i might be able to fit u in my bag tills.

[Tawnyowl]

Perhas some of you will remember i have a slight dislike of Kensington mortgages the way they add monthly arrears fees even when peple are paying arrears off-prob struggling to do so.And other things like councillors fees also sometimes turning up without apointments even and charging 90 odd pound if in or 50 odd if not.And all the other tricks they can think off to rip money off you.

Well was going to male it so easy for baliff man and kensington rep and locksmithy man when they turn u on monday to repossess house.Was going to brick behind door and other things to make it easier for them to enter and was going to film the fun.But have decided to let things go peacebly .Just left them about 4 tons of hardcore in front garden and 5 tons inside-thats enough-better not get carried away-feel message will get through with that.Also nice message on living room wall and santra sack for baliff filled with-mmm youll have to guess that one.Just cant be bothered to make it baliff proof-will take to much time but would have done few years ago.Thats all for now i will be there on monday to make sure they observe two mins silence at 11AM when they are repossessing-then they can get on with it.Tawnyowl.:)Hope as Tilly says will feel slightly better when this is over.Havent even told meter man to read meter -oops-to late i suppose.

[bevo]

Fair parking -left house over 4 weeks ago-glad to be rid-if you find that strange just go back a 20 or so posts-then u will understand.Not interested in house one bit-just want rid -am already in new nest and settled.Break even or shortfall don't give a jot.Going bankrupt.But thankyou for the advice.It has been well thought out and perhaps will help other people in similar positions.

 

tawny owl hope you don't mind me asking a question - how long was it before you were repossessed? I am between filing for bankruptcy and including property or being repossessed and then bankruptcy. I am having such bad sleepness nights that I don;t know what to do.

[woodwa5]

it does take some time (several months) before they actually go to that step

[The GodMother]

tawny is being repossessed on Monday but he has all the papers etc delt with so he can go bankrupt later.

 

Please note tawny also has a bankruptcy thread.

 

 

 

Hi guest please feel free to register and join us. We dont bit.

[Tawnyowl]

tawny owl hope you don't mind me asking a question - how long was it before you were repossessed? I am between filing for bankruptcy and including property or being repossessed and then bankruptcy. I am having such bad sleepness nights that I don;t know what to do.

Well first of all i missed about 6 months payments then they went for repossession hearing which was suspended due to me making offer to pay arrears off as well as normal payments.This proved to be unrealistic and really final nail came with their monthly arrears charges and the thought i would be aying mortgage into my 80s.So made another 2 payments missed another 4 months--something like that before they finally decided to go for eviction date.But many people get repossessed before that time.Suppose it deends who you are with and maybe what percent you borrowed on house-they probably weigh u the risk-i dont know really. I cant believe how long it has taken them to go for it.Just ask as many questions as you like-best not to do the sleepless night .Who r you with.

Also latest received hand delivered letter today from baliff saying coming to repo on tuesday the 11th at 11am.PUT THE WRONG DAY DOWN A FEW POSTS AGO SORRY IF IT MISLED ANYONEtAWNYOWL-HOPING YOU ARE ALL well and taking the fight to the banks and subrimers-sorry about caps.:)Havent been on lately much because have constant ringing in ears-havent been to doc yet.Will get round to it.Just listening to the eagles at mo and chillin sure puts different edge to it with backing ring

Edited November 7, 2008 by tawnyowl