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cosmicjade26

Please help - GE Money Reppossessed home

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Hi all, i really need some advise (like everyone on here i guess), Me and my hubby are in real trouble, long story short our house has been repossessed.

We have had our house on the market for about a year with no interest in it, we had a phone call from the estate agents this morn saying that she went to do a viewing and the locks had been changed and there was a legal charge notice on the door, giving us 7 days to remove our things (we do not live in the property, we live 40 miles away), things went wrong in dec 2008 when my wages got cut by half and then (april) i became ill with what docters suspected was cancer (still being investigated), we have got a letter from G.E. money (mortgage lender) dated 23rd of April 2009 saying our last payment was 9th Dec 2008, and that they hold a possession order but when we spoke to G.E today they told us the house was taken by possesion on 8th dec 2008 which i dont get. The gent who i spoke to said we could have possession back if we pay the arrers plus the interest and the possession + legal fees they are as follows,

 

Arrers = £2997.87

Interest being charged = £2381.46

Repo cost + legal cost = unknown the gent said could be in area of £2000

 

So we have to find around £7000 to get our home back, is there any advise out there for us.

 

I don't remember a possesion order.

 

We have been asked to send a letter to them as to why we are in arreres and 3 months pay slips and also confirm where the money is coming from to pay the outstandng amount.

 

Please i feel physically sick with this i don't know where to turn.

 

Would it be prudent to send SAR for info they have as i honestly can't remember getting anything through the post about possession order and i have two pieces of conflicting evidence as to when the possession took place.

Edited by cosmicjade26
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Ok, people may not be able to help with my situation above so i am pleading with anyone to help me draft a letter to the mortgage company to either let me pay the amount owed only not the intrest (as i belive this is unfair) and then the monthly mortgage fee plus a bit more, or ask them to give me details of how they intend to sell the property, but i still think i need to send SAR/CCA letters.

 

PLEASE i am begging, i don't care if you are blunt or tell me i have been an a**e, but i really need some advice.

Edited by cosmicjade26
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A pun is the lowest form of humor -- when you don't think of it first.

-- Oscar Levant

 

Politicians are wonderful people as long as they stay away from things they don't understand, such as working for a living.

-- P. J. ORourke

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I suggest that you just ask them to send you a breakdown of the exact costs that they require in writing to enable you to attempt to resolve the situation.

 

Now please dont take this wrong I am trying to put things into perspective.

 

It would appear to me that although you want to get your 'home' back it is not really your home and you actually live 40 miles away. You also say that you had a letter regarding possession in April and did not appear to have done anything. Even then you only found out the true situation when the agent went round so you do not even visit the property.

 

You do not appear to have attempted to pay the mortgage for 7 months and you do not want the house as it is on the market.

 

So what have we got? You want to sell the house & GE Money want to sell the house. There is not really a major problem. I realise that you are trying to lock the stable door after the horse has bolted but this is a normal human reaction.

 

I believe that your main concern is that GE Money will sell the house at too low a price and you will lose some money on the deal. But the market is not good and if you cannot afford to keep the house it is the best thing.

 

So ask for the information I suggested. Decide if you can afford to pay the figure requested or the figure you believe is correct. If you can a) pay, get the house back and reduce the price to sell it quicky. If you cannot b)send a letter to GE Money making it clear that you will want strict proof that they have obtained the best possible price.

 

If you choose option b) be prepared for it to fetch a low price at auction or even on the open market. The problem will be that if it sells for less than what you owe they will want the balance from you

 

Not easy and you are nowhere near alone but at the end of the day its only money although thats easy for me to say. But your health is the important thing and you need to get this sorted out so that you can start to get that back.

 

Pedross

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I don't remember a possesion order.

 

 

Just as an observation have you asked them which court they had the possesion order made in?

 

& once you know this then check with the court that this has actually occured see if you can get a copy of exactly what's what from the court.

 

then you could post back & I'm sure someone will help.....


what goes around comes around

EVERY cloud does have a silver lining you just have to look really REALLY hard sometimes..

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Did you inform them of your other address? the court papers for a possession hearing would have been sent to the property you have the mortgage arrears on. If you did not attend the hearing the court would have no option but to give a possession order to GE. A copy of this order would also be sent to the property. GE would then apply for an eviction warrant - also delivered to the property - giving the date they would take possession.

 

So, if you had not been to the property for a couple of months all this paperwork could have been lying behind the door.


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PLEASE i am begging, i don't care if you are blunt or tell me i have been an a**e, but i really need some advice.

 

 

We're not here to judge each other Jade...if so, 99% of us would probably fall into the above category!! ;)

 

It can sometimes take a while to get a response and if you're really stuck then you should click the triangle warning sign on the bottom left hand side of your post and ask a Mod for help.

 

However, I see Ell-enn has come to the rescue so you're in safe hands now!! :)

 

Best of luck with this...


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We're not here to judge each other Jade...if so, 99% of us would probably fall into the above category!! ;)

 

However, I see Ell-enn has come to the rescue so you're in safe hands now!! :)

 

i agree with fellow welshie on both counts i've not come across a judgemental CAGger yet!

 

& you're in the best hands with the star of the north (aka Ell-enn) good luck


what goes around comes around

EVERY cloud does have a silver lining you just have to look really REALLY hard sometimes..

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Got to say I have never heard of a company that have taken legal possession through the courts saying you can have the property back.

 

Do you still need help with the letter?


Please note I am not an expert - I am not offering opinions or legal help - Please use all the information provided on the site in FAQ- step by step instructions and library- thanks Jansus:)

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If you want the house, pay what they ask if you can, argue if you dont. Rent the house, this time next year house prices will be on the rise again OR you may be confident enough to keep it. I have dealt with GE Money and they will do all they can to resolve this. Dont mess about using words like 'unfair' just get your home back.

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