Help with mortgage arrears

[angel_1]

hiya thanks for subbing onto our thread with survivor, im subbing to yours now too if we may

 

cheers angel will get survivor to take a look here too

 

good luck

[newstarter]

Hello welshmishy,i stumbled on your thread by accident this evening.You thread makes intresting reading.It highlights the problems of securitisasion

{the buying and selling of mortgage securities} for the borrower.You like many others are suffering at the hands of these companies which are intent on adding charge after charge to inflate arrears figures then attempt to go for the jugular in the form of repossession.You have much good advice to date in dealing with these,well crooks!!!. But it would help to know who your dealing with for a start.

[newstarter]

Mars Capital is the trading name for a group of companies formed 8 years ago.They are based in Trinity Lane south east London.They deal in what they term as distressed mortgages in other words they buy mortgages which are in arrears both private and business properties They are registered and have a license to issue e-ds1 that means they are able to register a charge or discharge a charge with the land registry office.I have done some digging and they have offices throughout europe.

[newstarter]

Your assumptions about this company are are spot on.They buy a mortgage or mortgages and then add on ficticious charges with a view to repossessing the properties at the earliest opertunity.That way the morgage is settled,they take their cut and the borrower is left with a shortfall of thousands for which any dca can chase for up to 12 years after the property has been to auction.

[newstarter]

In short these crooks are trying every trick in the book to take your home from you and leave you paying for years for something you know longer own while they offload mortgages from their books at a profit.You see when they bought you mortgage they had no intention of letting it run its full course,they bought hoping to offload it in what 5 years tops.

[newstarter]

Iam probobly not telling you much that you dont already know but ithink its best to set your stall out so to speak first then go from there.Theres a couple of questions i need to ask you if i may,in June 2009,your mortgage was sold to Mars from Oakwood homes,were you told of this at the time in the form of letter or phone call,Second,did you recieve any terms and conditions from Mars after you were told there would be no change in terms and conditions and if so wre those ts and cs different from Oakwoods

[welshmishy]

Hi Newstarter

 

We can a letter from oakwood and Mars about the sale of our mortgage but 2 weeks after it was sold, so we complained to both companys and then further down the line to the ombudsman for the lack of notice on the sale of it.

 

No new terms and conditions from mars and everytime we go to court they use Gmacs as we was with them before oakwood took over so all 3 companys are using the same terms and conditions. Oakwood and Mars said the terms and conditions will stay the same as Gmacs.

 

The ombudsman is now dealing with our case and have asked Mars to stop phoning us while they are dealing with our case, also he wants proof of the suspended possesion order as they told him it was awarded but it was never awarded to them.

 

They have just sent us a bill for £1733.00 in solicitors fees then they have sent us a letter to say they are refunding the whole costs £1733.00 but when you look at our last 12 months statement they have been already added on monthly so we have now paid for them twice plus the £1733.00 is more then the cost for all the courts fees when you add them all up??

 

We are now waiting on the ombudsman's final say , so fingers crossed

 

thanks hope this helps

[newstarter]

Right so Mars are using G.M.A.C,s terms and conditions.You say were not otld about the mortgage transfer until two weeks after it had taken place,i really dont like the sound of that,however something tells me that the transfer is legal.Putting that to one side the rest is just a comedy of errors.Now its with the F.O.S theres little anyone can do until you recieve the outcome of their enquiry,good luck with it and like you say fingers crossed,i shall follow the thread with intrest.

[welshmishy]

Do you know how we can find out where our mortgage will be if not on the main 2 credit files? it shows oakwood sold our mortgage off but says the company that own it is not an equifax customer and its not on experian so where will it be as we would like to see what they are putting on our credit files.

 

Thanks any help would be grate

[newstarter]

OK Welshmishy the thing is you wont be able to find any default notice with experien or equifax or any other credit reference agency at this moment in time as your current lender to who Oakwood sold the mortgage to Does not need to be a customer of any credit reference agency.As such until your lender decides to register any default you simply will not be able to find your mortgage on any credit file.But dont worry too much about this as, if they did register notes on your account you would soon

Track them down on one or other of the major 2 files.

[welshmishy]

Hi Newstarter

 

thanks for your help, its just a waiting game now until we get the outcome from the FOS.

 

all the best

[newstarter]

No probs,once again good luck.

[welshmishy]

Well we have now been sold off to a new company! we had a letter in the middle of the month to say mars have now sold us and we need to pay the new mortgage company engaged credit which is another one we have not heared of? still waiting for the out come from the fos about the way mars treated us , so lets hope it's good news after all this time and that the new company are a little more willing to help us.

[caro]

Take a look at this welshmishy. It might well be of help to you. http://www.consumeractiongroup.co.uk/forum/showthread.php?296126-Hot-news-for-anyone-who-has-suffered-mortgage-arrears-charges-irresponsible-lending-or-other-unfair-lender-conduct&highlight=

[welshmishy]

thanks for that was very helpful

[ohitsonlyme]

Hey mishy glad you are still in there and fighting,Its now nearly 12 months since you were worried about losing your home

I hope you are less worried now.

An old man once told me he had had many worries in his life and that most of them never actually came to be

 

Onlyme

[welshmishy]

Hi onlyme

 

thanks for your kind words , we feel a little better now with a new company but are not sure what they are like, will have to wait and see how its goes!

hope all is well with you.

 

thanks welshmishy

[welshmishy]

Well at last we have had a our outcome from the FOS and it went i our favour so we are getting all court cost and interest back, we have since been sold on again to some called engaged credit , they seem to be ok for know.

 

Fingers crossed these will be ok and i'm glad the other one is over now

[caro]

Hi welshmishy and many congratulations. 2 years with FOS is a disgrace, leaving you to worry all this time. I'm glad you're happy with the outcome though.

 

Did you get charges back too?

[welshmishy]

Thanks for your reply, it was along time the fos said they are very busy.

 

we did get the charges back as well ,but the new company enaged credit are now putting extra interest on the fees from mars so we will have to sort that out now.

 

mars was told by the fos that they took us to court to quickly and that we could prove no missed payments so they should not have gone down that route, it's been a long time but we got there in the end and have now not missed a payment for 3yrs

 

thanks