Tilly V mortgage express repo

[**Tilly**]

Thanks Stone didn't see that there

[TideTurner]

Tills, you can take them up on their offer of a FREE valuation, but I'd have a seperate valuation done so you know exactly how much (if anything) you are giving up. Problem with the 75% situation, is that more and more analysts are predicting a downturn, some as much as 40%, so these companies may use that to justify a lower offer. Stay on your toes Lady.

[**Tilly**]

Tide im pass the stage where i dont know if im on my ass or my head , this lady:D deffinatley

on her toes well 8 of them i here what you are saying though,

[Hopeful1]

Hi Tilly, i'm still around and full of admiration. I made enquiries with one of these companies a couple of years ago. I was certainly shocked at how little they offered. I suspect your gut instinct to be wary is right, but it's not worth leaving any stone unturned in this situation.

 

As an extreme long shot, i'm still hoping one of us will win the lottery

[ja-de]

TILLY, PLEASE DON'T DO IT!!!!

I've been having a bit of a search, & I found this A Dangerous way to get out of DebtBasically it tells you that it's a WIN-WIN situation for them, & a NO-WIN situation for you. Please read the article before you commit to anything, & please be very careful around these companies, it seems as though they're like vultures towards people who are desperate to sell as quickly as possible.

 

Has anyone turned stone the right way up yet?

Edited June 1, 2008 by ja-de

[**Tilly**]

Hi Jade

 

Thanks flower, believe me i don't intend to commit to anything, like hopefull said my gut instict tells me know. But thankyou for the link.

 

 

Tills

 

 

Ps stone is now up the right way

[stonedecroze]

It must be lets get stone day again.

 

[**Tilly**]

Jade your right, and i hope many posts on this thread will be helpfull to many people that find there selves in a simular situation.

 

 

 

 

 

 

 

 

peeps stop picking on stone

[sillygirl1]

I was offered one of these and they took so long to get sorted out it didn't work out.

 

It is almost impossible to have a win-win situation for the home owner when repossession is instigated (and it isn't always as a last resort as they keep trying to tell you - one missed payment is all it takes these days - and there is plenty of evidence to support that about).

 

What would be sensible is for the mortgage lenders to have a scheme where they buy 25% of the NORMAL value of your home and that way everybody wins... you have some cash to pay off the arrears, and they could possibly keep the rest for three to six months before releasing the balance to you... what do other people think?

[ja-de]

Hi sg, I've heard of it many times in the past, where you 'Buy 2 Rent', but I don't think it applies to Tilly's case, as unfortunately I honestly don't think that the mortgage lenders would even contemplate (big word for me this early on Sunday) going down that road, now or in the future. Lets face it, they're far too busy trying to take all our money as it is. But I must agree with you, it's a reasonably good idea.

[stonedecroze]

Just a thought Tils, Have you tried your local housing assn ? a couple in my area have been known to buy ex council houses back from the owners and leave them as sitting tenants when their local stock of properties has been low for peeps in similar situs to to yours.

[**Tilly**]

To be honest guys, with a view to my current situation, i dont think i want to stay here any longer than i have too now, thats does'nt mean im giving up what i mean is staying until hopefully sell the house or get told leave. So i think the sell to rent is a non starter anyway.

Edited June 1, 2008 by **Tilly**

[**Tilly**]

Hiya stone

 

yes have tried the local housing assoiation and many others, they all seem to building their own these days, or don't have the funds.

[ja-de]

I totally understand what you're saying Tills, in the light of everything that's happened, no-one can blame you at all.

[**Tilly**]

The housing market is so slow at the moment, i think i have seen 3 sold boards go up, but there are many for sale signs so im not alone there are loads of peeps trying to

do the same.

[ja-de]

Yes, unfortunately it's slow everywhere, & it won't help with all these rules & regulations they've started with. Certificates for windows, boilers, wiring, etc etc blah blah .............

[**Tilly**]

Yes, unfortunately it's slow everywhere, & it won't help with all these rules & regulations they've started with. Certificates for windows, boilers, wiring, etc etc blah blah .............

 

 

Well im on the ball there jade i have all mine

[ja-de]

I never doubted you Tills, one things for sure, no-one will manage to get one over on you hun, which is why we know that you can do this.

[**Tilly**]

Will be offline again in a few hours, until wednesday, so as before if there is any news i will ask someone to post it for me.

[kennythecelt]

Morning Tilly and everyone!!

 

I will make sure the info gets to you- still pursuing, but as you say and others have said previously, this sell to rent/ rent back does not look hopeful. It is doubtfull if ME would agree to the sale at such a discounted price in any case, unfortunately. Time is also an issue.

 

Stone, the H/A option to buy has been investigated as suggested in earlier posts. It would make sense if the Housing Corporation focussed more attention on this area for people in this situation. Unfortunately, it does not look like an option in Tillys area.

 

Immediate priority needs to be N244 updated and focussing on housing/ living arrangements.

 

Take care Tilly and ask any questions as you need to.

Edited June 1, 2008 by kennythecelt

[**Tilly**]

Morning Kenny

 

Yes i agree with you on the sellt to rent, the n244 needs to be udated asap like you say being offline is not helping

The living arrangments at the moment are my daughter is going to stay with her brother, me with my sister not ideal i know, but at the moment have no choice.

[tonycee]

Good Luck **Lilly**

 

Our thoughts are with you.

[**Tilly**]

I have been looking at private rentals but here the rents start from 580.00 for a 1 bed flat upwards for houses, although i have sorted out other benefits, they wont give me housing benefit until im out of here

[caro]

Tilly, there is something that has crossed my mind and that is the possession order. I'm wondering if at the moment you would be able to sell the house yourself as I'm not sure if technically and legally it is yours to sell. Although you still have access to it and are living there the order came into effect on 27th May.

 

If you got enough to cover the full debt it may not be a problem. If in reality you are unlikely to cover the full debt, and as you don't want to keep the house I'm beginning to wonder if the N244 is the best way to go.

 

Being totally realistic, if you are still likely to owe ME a very large amount of money after the house as sold, I'm wondering if you may be better to look at alternative ways of clearing the debt.

[kennythecelt]

We will need to track down a benefits guru, and we will.