Suspended possession help!

[trudd]

Last winter my husband lost his job, payment protection was invalid and we accrued arrears in everything. We reclaimed charges and gave the mortgage company a lump sum. We got a suspended possession order in may (he was back in work by then) and always paid on time since.

Except in december he was paid a different day and there was a tax error. We only had £700 in the day the standing order went out. The bank system decided to pay council tax before mortgage, so mortgage didn't go.

We just found out last week..to top it off the fixed rate ends this month and they want £300 extra a month. We could rent my house for much less than the mortgage repayments!

So we are selling up. They say if we get the missed december (actually it was the january payment but it goes out then) payment to them (hoping work can lend it to us) and prove it's on the market they will hold out they will wait for us to sell before enforcing the warrant.

How can we believe them? Last time when my husband lost his job they said they wouldn't take it to court as long as we kept them informed. They started proceedings the week he got a new job and we started paying again!

I've just heard about the N244. Now would doing this annoy them? Do you have to have sold before filling this out or just prove it's on the market?

We really are trying.

 

just to add I can't see CAB until Tuesday (been this week already) as they only have outreach here. You can't get through on the phone ever!

[Ell-enn]

Hi there, this situation must be very distressing for you. However, you will get all the help and support you need on this forum. There is no need to submit a N244 form until such time as the mortgage company enforce the warrant. If that happens you can then submit the N244 applying for a further suspension of the warrant to allow you time to sell and continue with payments we can help you to fill this in correctly.

 

If you are able to prove to the judge that you can keep paying while the house is up for sale (and prove it is on the market), then you won't have any problem getting another suspended order. Judges don't like taking houses from people who are genuinely trying to get out of the situation they are in.

 

I would make the missed payment if at all possible and send them confirmation that the house is on the market. When you make the payment you should call them and ask for the name (and correct address) of the person to whom you should send the confirmation of house being on the market. Send it to them with a covering letter confirming their conversation regarding not enforcing the warrant and that you have made the payment as agreed. Send by recorded delivery so you can prove they have received it (you may need to prove this later).

 

I know it's easy to say, but try not to worry too much - you are doing your best to get out of this situation and we will give you as much support as possible.

 

Out of interest, who is the mortgage company?

 

Kind Regards

 

Ell-enn

[trudd]

Thank you! We have 3 young children too so I do hope they realise we are genuinely trying to do something and don't take our home. We can pay all further payments and we have proof with out bank statements and pay slips that this was a genuine mistake...I think I'm going to change my council tax standing order to the next day now too.

The company is Platform.

It's so frustrating that losing your job for just a few months can cause us to lose our home of 10 years. We hope to move somewhere with more employment opportunities so I can get a part time job around the children too.

[Ell-enn]

Hi there, I am confident, given what you have told us, that if they do take action you will get a further suspended possession order, but we'll deal with that if it happens.

 

Please keep us updated when you have made payment and if there are any further developments.

 

Good Luck, I am sure it will all work out.

 

Kind Regards

 

Ell-enn

[trudd]

Thank you Ell-enn for your help. I'll let you know how we get on. We had it valued today, another estate agent is coming tomorrow, and then we'll decide which to go with and hopefully be on the market very soon.

[tonycee]

payment protection was invalid

Did you claim back the PPI premiums ?

 

to top it off the fixed rate ends this month and they want £300 extra a month.

Mortgage lending is at a ten year low. Have you asked them for a new deal ?

 

We could rent my house for much less than the mortgage repayments! So we are selling up.

I hope only as a last resort.

 

How can we believe them? Last time when my husband lost his job they said they wouldn't take it to court as long as we kept them informed.

Ask for everything in writing.

 

 

Hi there, this situation must be very distressing for you. However, you will get all the help and support you need on this forum.

Indeed, but you can get through this.

 

The company is Platform.

Yuk. Have you searched the market exhaustively ?

[ananya]

Hi trudd

 

Through the fantastic help and support I received from CAG and Ell-enn in particular, I managed to get the eviction suspended on our property in circumstances that were quite bad!

 

Please try not to worry too much, easy to say and hard to do I know, everyone is here to help

 

Good luck.

[Goldlady]

Platform have been very good with us - in fact they let us increase our mortgage with them to take out GE Money who did try and repossess our house over a secured loan when things were tough. At that time Platform did listen to us and let us pay the arrears over a year without any further hassle. I would hope that if you tell them your situation they should at least listen, unlike many other lenders. Also, if they tried to enforce the repossession and you have told them what you are doing the court will not be too keen to enforce the repossession.

 

I do hope you can get out of this situation without having to sell your house.

[Bona]

You need to look at your mortgage if you have to pay a erc it may not be worth selling you could be better off staying where you are for the short term dont be to hasty I went through many repossession hearings and they never got the house the courts will be on your side especialy if you are trying to get straight and you have a familly please dont worry

[trudd]

Well we paid our missed payment back (only a month late) and got an offer on the house, filled out an income and expenditure form with evidence for them etc They seemed happy yesterday with what was going on.

Now we are most confused. Got a letter today say our mortgage has been transferred to JPMorganChase. Now I spoke to the guy at platform about 4 times yesterday. He never mentioned it. Any idea what might be going on?

I'm worried these guys are there to repossess or something.

Really bugs me when important letters are posted on fridays, Knowing full well they aren't open over the weekend to explain.

[Ell-enn]

Hi there, what exactly does the letter say. JPMorgan Chase are a financial institution (banking) it could be that Platform have been taken over by them.

 

Kind Regards

 

Ell-enn

[trudd]

It says our mortgage has been transferred to JPMorganChase, that the terms and conditions are still the same. In fact the address is still the same. We do know Western Mortgage Services are who we are really contacting when dealing with our mortgage and it appears it's still them.

A google does bring up business news about JPMorgan buying into the subprime market. Something about "non conforming mortgage securitisation" I can't see the whole story, it's in Euroweek and that's a subscription site.

Just worried and surprised we were never told on friday despite contact during that day.

[trudd]

Turns out there is nothing to worry about. Nothing changes. Estate agent thinks well complete in 5/6 weeks. Now what I don't anything about is timing. When do we get the money from the sale? before we have to move out or after? Not sure how to put deposit down without the cash from the sale.

[Goldlady]

Hi trudd, all the money moves around on completion day. I wonder if your solicitor will contact the new landlord on your behalf and confirm that the deposit will be paid from the sale proceeds. Worth asking.

[trudd]

Thank you! I think that is what we will be doing...just got to find somewhere now. Toruble is that most landlords give little notice before advertising. Most properties I can find are for now, not a month or so time. Plus I can't put down money and reserve one until exchange. It's a bit unsettling! Be alright if it were just us but with 3 children in tow it's a bit of a worry.

Very luckily our 6% early repayment charge runs out mid march, we complete end of.

Until now we never really noticed how much we were paying on our mortgage in interest. We owe them more than we borrowed despite 2 years of payments.

[Goldlady]

You are well out of it then trudd. I wonder if you could find a b&b to stay in (not the down and out type) and store your stuff for a couple of weeks to give you a chance to find the right home rather than taking whatever you can get. Unless friends or family could put you up, or you could borrow someone's caravan. We would have exactly the same problem if we decided to sell up.

[trudd]

They don't have b&b's where I live! Plus the fact we'd need storage for all our stuff. Not enough room at family's for a family or 5 really.

 

We are just now in limbo waiting for exchange, then we can choose a house to rent. I don't think it'll be long, our solicitor has sent the buyer's one the contract now.

[Kai-Boshed]

Just an idea, since how you say you could rent your house for less than the mortgage - well have you thoughts about contacting a local investor, see if they are interested in buying your house and renting it to you until you get sorted with somewhere else? most property investors are very happy to do this. The best way to find one is to contact your local LETTINGS agent they will have good contacts. Just a thought....

[trudd]

Apart from hearing dodgy things about these kind of companies we have desperately needed to move for years now. The shared ownership people class as overcrowded, we have 3 children in a 2 up 2 down and it has been unbearable. Plus once the equity we are going to rent with runs out I need to work (which is when my youngest starts school) and there is no work where I live.