Wrongly repossessed?

[CHRISSEY]

I have a question for you.

 

Our home was repossesed by Mortgage Express last month.

 

We originally had the remortgage with GMAC. About 3 years ago they wrote and told us the had passed it on to Mortgage Express.

 

My point is this, we never had a mortgage offer letter from Mortgage Express and we have not signed any mortgage agreement with them did they have the right to repossess our home?

[Guest Old_andrew2018]

I expect they are allowed they went through the process of applying to the courts, did you consult a solicitor at the time

[andrew1]

I have a question for you.

 

Our home was repossesed by Mortgage Express last month.

 

We originally had the remortgage with GMAC. About 3 years ago they wrote and told us the had passed it on to Mortgage Express.

 

My point is this, we never had a mortgage offer letter from Mortgage Express and we have not signed any mortgage agreement with them did they have the right to repossess our home?

 

I am sorry to hear about this Chrissey. Actually, I think you should start to do a bit of research and asking a few questions now that this horrible deed has happened and by coming on here you are obviously beginning to wonder if what was done was correct. Lets hope you find these answers with a little help from some of us.

 

I appreciate what old andrew is saying, but with respect andrew this is an assumption which may be proved differently and one which many take for granted because these companies are so big.

 

I'd like you to start reading about GMAC and the securitisation threads and discussions. Particularly so because GMAC securitisations are questionable.

 

It depends on what you feel capable of doing in your quest for the truth, but you need to get all your files on the GMAC and Mortgage Express together, your bank statements, and letters from them both and set about pulling this to bits.

 

What you need to find out is the process upon which the move to Mortgage express change took place and all the supporting documentation. Get together all your original mortgage title documents too because what you are going to do is find out if either GMAC or Mortgage express actually had the right under the title deeds to take repossession action. Securitisation means selling your mortgage without you knowing to an SPV ( a vehicle for raising money on the investment market)...American companies in particular are more vulnerable than UK ones for reasons I won't bore you with just yet.

 

But you need to find out if legal title was in place for the company who repossessed to do this. Also the assigning of the mortgage from GMAC to ME - how were you informed, what did it say?

 

Get your paperwork together and come back here. Take a read of this thread too for starters and get a feel for this - it'll be a long haul, but it may well be worth it...keep a positive mental attitude with the assumption of a negative result...that way you won't be disappointed if things don't work out.

 

http://www.consumeractiongroup.co.uk/forum/mortgages-secured-loans/186867-carmel-butler-house-commons.html

 

http://www.consumeractiongroup.co.uk/forum/mortgages-secured-loans/175426-mortgage-securitisation-preferred.html

 

http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/171037-multiple-agreements-falling-within.html

 

That should keep you occupied for a while, take it gently and you'll find you'll be asking questions once the penny drops. Good luck..it's hard, but you'll do it.

[CHRISSEY]

Thanks Sarah

 

It will take some time digging out the paperwork as all our paperwork is in storage due to the fact that we had 48 hours to get out of the house and nowhere to, go we had to rent storage units to put all our possessions in.

 

At the time we were concentrating on finding somewhere to live and moving our belongings in but now the dust has settled I just kept thinking there is something not right about the whole thing.

 

Our biggest mistake was trusting people within the finance industry when they gave advice and because they are supposed to be the experts we believed them.

 

I know this won't get us our house back, but if it exposes them for unfair practice it's worth a try.

 

I am on a mission

 

Chrissey

[andrew1]

Thanks Sarah

 

It will take some time digging out the paperwork as all our paperwork is in storage due to the fact that we had 48 hours to get out of the house and nowhere to, go we had to rent storage units to put all our possessions in.

 

At the time we were concentrating on finding somewhere to live and moving our belongings in but now the dust has settled I just kept thinking there is something not right about the whole thing.

 

Our biggest mistake was trusting people within the finance industry when they gave advice and because they are supposed to be the experts we believed them.

 

I know this won't get us our house back, but if it exposes them for unfair practice it's worth a try.

 

I am on a mission

 

Chrissey

 

I'm really glad to hear this Chrissey, what you appear to have gone through is unimaginable. I've been wiped the floor with once in my life and believe me, you will come through this stronger and no, you won't get your home back, but you might get a lot more satisfaction from the end result and at the very least you will be at peace with yourself that even if things were done correctly (which I doubt) you will know the truth has been told to you and you can move on.

 

Do not leave one stone unturned or unquestioned. No matter how small or insignificant it may appear, post it up here, I've asked so many daft questions over the years and now look at all the green pips I've got from the strength CAG and the people (Gag IS the people) have given me.. some silent, all faceless, all unselfish people who use one anothers strengths and knowledge to get through.

 

I am dealing with things now I never even heard of back when I first came on here...you'll get your answers believe me. Good luck and well done.