Need advice re likely warrant for possession

[Guest DebtWeary]

Hi, I have posted here in the past regarding difficulties with my mortgage lender. I am facing a situation I have met before, namely my lender applying for a warrant for possession, but I am not sure this time if I will be able to reduce the arrears sufficiently to get them to withdraw the warrant.

 

I have been under a suspended repossession order for over 3 years now, with Redstone Mortgages, one of the famous sub-prime lenders. I have had a number of run-ins with the real administrators of the mortgage, Homeloan Management Ltd., in Skipton, including several warrants issued.

 

My situation is that I am self-employed and my income fluctuates a lot, so it often happens that my mortgage payments get behind. I have explained this to Homeloan many, many times. Since the credit crunch began, their attitude has softened somewhat and the threats and phone calls I used to get from them are few nowadays. However, I recently received what they called a "Letter before Warrant", from their solicitors giving me the usual 7 days to clear the outstanding payments, failure to do so will result in them apply for Warrant etc. etc. The cutoff date was 20th September, so I suspect I will receive an eviction date from the Court any time now (unless of course the escalating problems in the financial world has caused them to have a rethink!). In which case I will have around 3 weeks to find the money.

 

What I need to know is, exactly how do I apply to the Court to have the repossession suspended again? What do I need if I do this?

 

The current arrears, representing just over 2 months' payments, is around £1400. Trouble is, with it nearly being October, it will go up by another payment on 1st October, so I will then have to find around £2100.

 

It might be possible for me to bring down the arrears to less than 2 months, but I doubt if that would be enough to make them withdraw the warrant.

 

I have always managed to stave off all this in the past but I just need to know the right procedure to follow if I have to.

 

I should add that I have posted elsewhere about this Homeloan outfit, whose behaviour and past conduct have been, shall we say, less than professional. Also, I have accrued huge amounts of "late payment" fees on the account and I would be grateful for any advice on how I can attempt to reclaim these.

 

Thanks in advance.

[Bona]

dont try to stave of with a large payment when you get the warrant of possession we can ask for a suspension on terms what yo owe is low so you should be able to get the repayments of a year or two that way you will find it easier

What can you pay this month can you pay your normall payment it looks to be around £700 you dont have to wait for the ist of the month if some one pays you can you pay them

 

Bona xxx

[poppadom dog]

When I was at (one of many!) repossession hearings, the court appointed solicitor for the mortgage co. told me that possession could not be enforced if the arrears are less then 2 months payments.

 

He also told me that the 'costs' could not be enforced as part of the possession order, even though the companies official solicitor had told me costs and the arrears has to be paid.

 

As far as I know you just need to submit a N244 and payment to request a hearing. I'm not sure if you can submit one if you haven't yet received the warrant.

 

I was under a possession order for 3 years. Like you I am self-employed and until recently so was my husband. We have fought the mortgage company 6 times in court (4 warrants for possession) and won. However we surrendered at the last warrant as although I knew we could successfully fight it, I was exhausted by it, and the thought of having them rule my life for another few years was crushing.

 

I have had a better life in the past 6 weeks than the past 3 years! I'm a happy and healthier person and my children have their mother back!

 

Good luck.

[cat100]

Best to wait for eviction date before submitting N244 as it costs less £35.Where as it would be £75.

You will be ok, try not to worry.

Wait for the eviction warrant from court then people like Elle-nn will guide you through the N244.

You could have up to 5 weeks before court hearing as a guess,depends how busy your local court is.

[Guest DebtWeary]

Update as of today: I hadn't heard anything from the court regarding this so I rang them, they said no warrant had been applied for. So I emailed the solicitors involved, they replied today to say Redstone had not instructed them to do anything at the moment.

 

This is most odd. I guess that the recent global financial mess has caused them to rethink their criteria for when to apply for a warrant, or maybe they are just waiting to see what happens. As they are a sub-prime lender, I guess they are on pretty thin ice at present!

 

DebtWeary

[OLIVE.FAMILY]

At leasr you know you have a bit longer. Even if redstone do go for repo that process usually takes around 6 weeks. Fingers crossed for you

 

olives xx

[Guest DebtWeary]

Thanks Olives, it is a bit unnerving waiting like this. I could ring Redstone but I want to have something to offer before I do that.

 

In the past, they have always leapt at the chance to obtain a warrant, they even did it one time when their accounts system "lost" a couple of my payments.

 

The only reason they would hold off would be if they somehow stand to lose out in some fashion. Maybe they have upped the arrears threshold as many more people fall behind, it would be unrealistic and impractical to try and repossess ALL of them and in the end they would be left with innumerable properties that couldn't be sold! Or maybe they are waiting to see if the government are going to come up with any form of help for those with serious arrears.

 

The current world financial turmoil is clearly having some effect.

[cat100]

I wouldn't ring them, all you are doing is reminding them of your account.

I know it is awfull waiting for the post every day,but keep your head down. If you have something to offer,put it in writing to them.

[Guest DebtWeary]

Well after some weeks of agonised waiting, on 14th November I finally received an eviction date from the Court - only TWO weeks ahead - 26th November. I had by then been in contact with Redstone, to see if I could still negotiate a monthly payment. In order to do that, they insisted on me completing a Personal Budget questionnaire. I sent that to them the middle of last week, I had to fax it to them again on Monday as they hadn't received the first one!

 

They then told me that it had to be referred to "higher management" for a decision on whether they would accept the proposal. So I have been sweating all week wondering whether they would, whether to apply to the court for a hearing - it's been pretty hellish.

 

But today, I received some money I have been waiting for. I was able to pay the agreed instalment. When I paid, they still insisted that they were waiting for a decision and that I should ring Friday. However, I got a call about half an hour later to say they had agreed - and those magic words, the eviction has been cancelled!!

 

Thank God! What a relief. I feel as if a ton weight has been lifted from me. After having had so many warrants applied for, I really didn't hold out much hope. I guess that many, many more people are in this position now.

 

I'm finding it difficult to understand the net effect the present economical conditions are having with such sub-prime lenders as Redstone. Time was, it would have been impossible to agree repayments - they would have insisted that I clear ALL the arrears.

 

I swear I will NEVER let this nightmarish situation happen again - I don't care what I have to do to prevent it!

 

DebtWeary

[tonycee]

Nice one.

 

I bet your not so weary tonight.

[Bona]

PLEASE PLEASE check with your court I was told on at least two occasions that my evictin had and been cancelled and it hadnt they did evenutally BUT MAKE SURE get it in writing

[Guest DebtWeary]

Hi Bona, yes I always do that anyway, just to be sure, probably today or Monday.

 

Thanks,

 

DebtWeary