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Repossession with Future Mortgages


ana2811
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My partner and me (+2 kids) had a second hearing yesterday (the first one we didn't attend as Future Mortgages said that the action was dropped as we paid the arrears). It turns out that it was only adjourned:!: Anyway as neither of us currently work, we knew that the judge will grant the possession, even the DWP pays the interest, but we can not afford to pay extra £300 repayment a month on JSA. We knew that our only option is to go to the council and ask about The Mortgage Rescue Scheme. The Council said that we meet the criteria and will put us forward for the scheme. The process takes around 3 months. So, armed with the letter from The Council we managed to get 56 days possession suspension, with the view that the judge will grant more time if the council comes up with the definite 'Yes'. The judge said that he is doing us a favour as the council tends to work faster if there is a time limit. So we shall see. My concern now is that in Yorkshire there is a limit of £140,000 on properties considered for the mortgage rescue. Although they do say that the cases will be considered on individual bases, I am concerned as we have outstanding mortgage of £190,000. Has anyone got any experience on this:confused:

 

Any feedback would be greatly appreciated.

 

Ana

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Hi, ana,

 

I have also been through this situation with Future and have just managed to fend off possession(for now!). I am now claiming back charges from them and I would suggest you do the same. Every month they are charging you £50 arrears charge, am I right? Then there are dd refusal charges at £30 a go. These charges can be reclaimed. I've just sent them a letter before action and fully expect a newgative response. The only thing they respond to is court action, they are unreasonable, arrogant and pretty incompetenet, to be honest. Usually they won't defend a court action, thereby giving you a default judgment, and then, when you threaten the bailiffs, they will pay up.

 

I'd start by putting in a SAR to get a full list of statements so you can work out your charges. Even if you don't decide to sue them for the charges, it is more ammunition to help you defend the repossession.

 

BAE :)

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I don't think they included their charges into the statement of arrears. We did however pay few before we cleared £3000 worth of missed payments in Feb. However, they refused to change repayments to interest only hence the build up of new arrears of just over £3000:evil:

 

If you get possession date, make sure you always turn up even if you pay your arrears off and they tell you you don't need to go. This is a ploy for them to get the case adjourned and to get you fast if you fall back with payments again.

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