GE mortgage, really need help

[Gothicfairy]

Hi all

 

I am new here but am hopeing that you can help me as I have run out of ideas. I hope this is the right part of the forum as this is where it is all heading.

 

We have a £739 per month mortgage with GE for a 3 bed ex council house on a pretty rough estate.

We bought the house years ago through Gmac and was then sold to North Yorkshire and from there to GE and that meant we had little control over the terms of the mortgage by the time GE got it and we would never have picked them anyway.

The house to begin with did have equity so we were not really bothered but time and governments move on and now there is no equity and I have been made redundant.

 

In May 2010 I knew the date of my redundancy and contact GE to advise that we would be losing a wage and that my husbands wages would not cover everything going out..ie gas/electric, water, insurance, council tax, car and petrol for him to do the 25 mile one way trip to work and the full mortgage ( repayment and interest) I asked what could be done to help me and was advised to write in for interest only. I did that and was turned down. They did not suggest any other options and refused to talk to me about anything for at least 2 weeks.

I called 3 times a week to try and get it sorted and looked on line and went to the CCCS and Shelter to get so information. With that I went back to the mortgage company and asked for some hardship help, I sent in my SOA the cccs had done and also my bank statements..Again they turned me down for any changes but did not tell me why. I asked about the homeowners mortgage scheme (they claim to have staff that deal with that daily and know the whole ins and outs) they refered me to an "expert" who claimed they would look into it.

All the time the payment is getting nearer and nearer and I have no money, been refused all benefits and have nothing spare.

SO they then come back and say they have cancelled all interest only mortgages since June 2009 so clearly can not apply for the homeowners mortgage scheme and the local council can not afford the mortgage rescue scheme (we have no kids and no one is disabled so we are at the bottom of a very long list)

 

So long story short I guess. I can no afford my full mortgage payment and GE will not help.

At this state I would happly give them back the house as I can rent here for £500 and it would be less heart ache and stress but that might not be the best option.

 

I have spoken to the FOS and they are going to write to GE and complain as well but that does not increase my monthly bank balance.

The community legal advice service will take my case and help me but I need to work out what to do.

 

Should I give the keys up and walk away or let them take me to court and lose the house and have to pay a short fall or end up bankrupt cos this can not go on.

 

We are £470 short per month now and something has to give. I am looking for a job and apply for 3-4 daily but there is little out there in my area and most don't even bother to reply.

 

I have emailed my MP twice to try and ask her to help me communicate with GE and make them go along with the government schemes they signed up to but as yet I have still had not reply nor a appointment for her surgery.

 

Is there anything else I can do ?

I can't even get GE to talk to me now and to be honest I am sick of listening to their lies when they do call me back.

 

HELP......please I am losing the will to live ( figure of speak rather then a real threat, honest )

[Blossomandebony]

Hi, Gothicfairy,

 

Sorry to hear about your plight.

 

Have GE charged you any arrears charges etc over the last few years, as claiming these charges back may be a way to stave off the eviction / fight back against their pathetic attitude.

 

BAE

[Gothicfairy]

we have never been in arrears with them before so no charges. But thanks for the reply and the idea is a good one and one I would not have thought about.

 

Our MP has written to GE and asked then to communicate with us, we were promised a call on Friday to discuss options but like everything else GE say it never happened so I have not made the payment for July 30th as I thought that might get someone to call me and ask for it, I know it will lead to charges and extra interest but I am not sure what else I can do.

[toofiegap]

GE monry are part of the government scheme I think to stop stuff like this happening as I am about to fight them also. I have arrears with them due to unemployment (interest only and they are totally unintersted) MY place is awaiting to be sold anyways Just awaiting for my seller to sell thier house now surley then cannot repo when awaiting for a sale to go though as in this instance they are getting the whole caboodle back

[Gothicfairy]

Check N123 form as that gives you the list they have to fill in before they can go to court for a repo.

They are not meant to do a lot of things but they don't seem to be playing by the same rules as we are.

That is why I got my MP involved as if they claim to be part of any government scheme and then do not live up to that claim I think the government should be looking into it.

 

We can not sell the house (sink hole estate, thanks Gordon Brown) so repo and bankrupcy seem the only option.

 

 

Good luck ( though I hope you don't need it)

[toofiegap]

thanks poss need it what I cant get my head around they were informed 3 months ago that my sols dealing with a sale that didnt go through (another story) would have asked for a redeption figure on this so they full well know that the house was sold at that point and again told that awaiting a sale to go through on that presumtion and knowing that thje total mortgage is being paid off in full they would have been more than willing to stave everything off and awsait for this or is it because I have loads of equity in the property they want it buy for the back mortgage and sell on for true value property and make at leave nearly 200000 profit from my situation

[toofiegap]

thanks poss need it what I cant get my head around they were informed 3 months ago that my sols dealing with a sale that didnt go through (another story) would have asked for a redeption figure on this so they full well know that the house was sold at that point and again told that awaiting a sale to go through on that presumtion and knowing that thje total mortgage is being paid off in full they would have been more than willing to stave everything off and awsait for this or is it because I have loads of equity in the property they want it buy for the back mortgage and sell on for true value property and make at leave nearly 200000 profit from my situation also looked at a copy of the form and clearly states on there

 

has the defendant stated that the house is being or will be sold if yes then why are they proceeding. so does this mean that when I spoke to them they are just being pedantic.

[Ell-enn]

Hi Gothicfairy, as part of the pre-action protocols lenders are supposed to explore all options when dealing with customers in arrears - this includes switching to interest only, capitalising the arrears or payment holiday.

 

You should write to GE (copy their solicitors) asking them to consider these options (this will also help your court case). If you need help with a letter I can draft one for you:)

[Ell-enn]

Hi toofiegap, if your case were to end up in court the judge would be none too pleased given that there is a sale in process. GE are always doing things the wrong way fortunately they give you plenty of evidence to defend their action.

[Gothicfairy]

Ell-enn..We have done all that. That is why we have gone to the MP, community legal advice team , Shelter, CCCS and the FOS.

GE no longer offer interest only so that option is out.

They have turned down a hardship move as they say we could not afford the repayments long term with only one wage.

They have refused a payment hoilday and will not change the terms of the mortgage at all. We have explored all this and I have several letters from them now turning us down for everything.

Until friday we were not in arrears but that of course has changed now and they will not offer the homeowners mortgage scheme as they don't offer interest only anymore..Swings and roundabouts.

We are going to have to go to court and argue that they have not complied with the N123 form and that they have broken all the rules themselves but it does mean of course we lose the house.

But the only good side (which is terrible) as a bankrupt they are not going to get half of the money that will be oustanding when they sell this place at auction.

[toofiegap]

thanks I can try and get some kip tonight then I am only on interst only mortage at the mment but this has defaulted 3 months s on a trot 2x due to a payday company clearing my account out and this month as no funds available for this I have also applied for the housing mortage thingie (sorry name escapes me) through the dss as i am now unemployed but that going to take sometime I hope they dont mess me about with this also as I have my plate full with WONGA fighting OFT breakages and with ex estate agents who put me in this possition in the first place by literally pushing pushing stating that if we didnt move by a certain date our sellers will pull out (they did on the day of exchange leaving me jobless as I was moving 100 miles away) so a very nasty possision to be in wouldnt wish it on anybody

[Ell-enn]

Have GE issued possession claim yet

[toofiegap]

no but we are expectiting this and trying to work this before it gets to that or hope the house sale goes ahead before

[toofiegap]

update last night about 8.15 a GE agent banged on my door (told him through a letter box) that they had already been written o by the benefits office he was an arrogant so and so very cocky Firstly he would have seen the for sale sign up Then why proceed to knock and why send someone who resembled someone who looked like an aging gangster (didnt even give his name) just said from ge money in a very tough guy manner should I callthem laters and try to explain to them the circumstances or awa\it to see what the dss have to say.

[Wickermran]

You mentioned that GE no longer offer interest only mortgages, however this will be for new business.

 

Yours is an existing mortage so would expect the lender to explore all options, including (as mentioned before) Interest Only or capitalizing arrears. This is regardless of their new lending criteria - they should look to these before reposession.

 

I would take up the offer of letter writing from ell-eln to see if that helps (I write excellent letters (IMO!) but have limited experience of avoiding repo with an uncooperative lender.

[Wickermran]

I would also add I had a mortgage with GMAC (self cert BS mortgage for a resi - on interest only!) that I was only too glad to get rid of. Awful to deal with.