repossession on Tues Help please

[cosytoes]

Hi

I am desperate, I just attended court to try and get the warrant for possession suspended, The Judge appeared to be accepting my proposals when the man who was representing the morgage company started listing all sorts, He made me feel about 2" tall and I think, but i'm not sure but i think he lied to the judge. He managed to get my application thrown out because he said my property is in negative equity.

My Morgage is £167000, my monthly installment is £1682. My arrears are 40k approx, He told the judge I owed £240000 and my house was only worth £210000 so by quoting a case "someone V Woolich" which set a presedence he said that due to the negative equity the possession is to go ahead.

Now I have got home and looked at the figures and i can't understand where the £240k has come from.

I made my application as I now have a job, I have been unemployed/temping for the past 2 years. And my husbands business has picked up and we made an offer of £1800 pm,

Do I have grounds to appeal? Is there anything else I can do

Edited March 7, 2011 by cosytoes

[cosytoes]

Hi

I am desperate, I just attended court to try and get the warrant for possession suspended, The Judge appeared to be accepting my proposals when the man who was representing the morgage company started listing all sorts, He made me feel about 2" tall and I think, but i'm not sure but i think he lied to the judge. He managed to get my application thrown out because he said my property is in negative equity.

My Morgage is £167000, my monthly installment is £1682. My arrears are 40k approx, He told the judge I owed £240000 and my house was only worth £210000 so by quoting a case "someone V Woolich" which set a presedence he said that due to the negative equity the possession is to go ahead.

Now I have got home and looked at the figures and i can't understand where the £240k has come from.

I made my application as I now have a job, I have been unemployed/temping for the past 2 years. And my husbands business has picked up and we made an offer of £1800 pm,

Do I have grounds to appeal? Is there anything else I can do

[acerbic]

Hi there, I'm sure someone will be able to offer you some advice shortly.

 

A couple of things don't add up to me, £1682 per month is an awful lot for a mortgage of £167K. Is it capital and interest, or interest repayment only?

You say the arrears are £40K, have you seen a statement from the mortgage company? How much of the arrears are charges. I ask because the FSA recently found some companies guilty of not treating customers fairly.

You need to get a statement of the account from the company, asap. £167K plus £40K is £207K, not £240K. There must charges in there.

Has the court ordered the repossession go ahead?

[acerbic]

I've alerted the site team to your thread, someone will have a look soon.

[cosytoes]

Hiya, yes repossession due to go ahead on Tues 15th at 1.30. The company is Swift, a sub-prime lender and we are paying about 12% interest. I think charges add up to about £8k. I spoke to a solicitor today who said that they can get me at least 6 months breathing space by requesting an urgent hearing and putting all charges, etc to judge but my head is so mashed i don't know what to do next.

Thank you, any help would be appreciated

[caro]

Hi cosytoes.

 

Swift seem to be very good at conjuring up high numbers. I've asked someone who is very familiar with them to take a look at your thread. In the meantime it may help if you could answer a few of questions.

 

When was the loan taken out?

 

Is this a second mortgage (unregulated)?

 

Was there any PPI on it?

[cosytoes]

hi

The morgage was taken out in Dec 2007

No it's a first charge.

and no PPI at least I don't think so. (I'll check and post back if there is)

Thank you

Cosy

PS after a night of lieing awke dwelling I can't believe that he sat there and blatantly said that we owed £240k. As I said that was when the judge made his decision. I want to go tearing back down to court and tell them we don't owe that much, but obviously time isn't on my side. Can I appeal?

 

Thanks Cosy

[Ell-enn]

Hi was this a hearing to stop an eviction warrant, or was it a first possession hearing?

[cosytoes]

Hi

It was a hearing to stop eviction warrant. They have held a possession warrant for a while but they executed it last week, with possession to take place on Tue 15th March, I completed a N244 on fri, got a hearing yesterday, but the judge threw out my application. So warrant for possession is to go ahead on Tues

Cosy x

[Smarterchick]

Cosytoes, demand a complete breakdown of the charges and a statement of account from Swift detailing the exact repossession figure claimed. Apply to the court and dispute the amount if you have to. Your solicitor seems to be on the right track, but get that statement and analyse it. Do you get statements from Swift 1st Ltd?

 

Also, get the names of the people who attended the court and made the statements you quoted above, you should be able to ring the court and get the names of who represented them on the day from their receiption sign-in. This is important. Get a transcript of the hearing from the court too. Ring the court office or get your solicitor to do it for you.

 

Do anything to hang on. The FSA have already had a go at Swift 1st Ltd for their charges in the tune of many millions in a fine I believe so USE IT.

[cosytoes]

Hi all,

Can I go back down to court and ask for another N244? take all the statements and info with me and get this suspended to give me time to get a solicitor to sort it out. The solicitor i spoke to yesterday was one i found on the internet but haven't yet instructed. I think what i am asking is can I appeal this decision and if so how?

Cosy xx

[rebel11]

Thread moved.

 

Which Tuesday?

[cosytoes]

15th March

Cosy

[rebel11]

Hi Cosy

 

O.K. Still some time. Don't panic, I'm sure advice won't be far off.

[cosytoes]

Hi just a thought, there are 264 months remaining on the morgage, If as you say i am allowed to pay them off over the term of the morgage that is only £160 pm extra, I offered that.

So if I can appeal, shall i use this as well?

I just need to know if I can appeal

Sorry to sound so desperate

But I am

Cosy

[acerbic]

Have you got the Notice of Eviction yet from the court bailiff?

 

I stand to be corrected, but I think that you may be able to ask the court to vary or postpone the order.

I think you should be able to ask for a postponement as you dispute the arrears figure, and you believe that it is made up of charges as well as arrears.

If the arrears were not significant, then their argument of negative equity wouldn't stack up.

You need to get your hands on the account straight away in order to get to the bottom of this.

You also need to get the postponement in quickly. I have read on the forum, and know of a personal situation where eviction was stopped the day before it was due to go ahead, so all is not lost I think.

 

Someone with more knowledge will be along soon.

[cosytoes]

Hi

Yes I have a notice of eviction, It is scheduled for Tues 15th.

Correct me if i'm wrong but you think I should go down to court and ask for a postponement on grounds that I dispute the arrears figure?

Is this my next step?

Thanks

Cosy

[acerbic]

I think the figures probably should have been disputed at the original possession order stage, however, I don't think it's too late. I am hoping that Ell-enn will look at your thread, she's very good with this sort of stuff.

Also, if the figures you state are correct, then there is no negative equity, and you could have quoted the Norgan case to get the arrears add to the mortgage term, thereby wiping any 'arrears'. It seems to me that possession was granted as there was perceived negative equity. Thoughts anyone??

[Ell-enn]

Hi there, the only way to appeal the district judge's order is to appeal to a circuit judge on an N161 form but you will need every bit of evidence you can get and as much info as you can glean - also you will probably have to travel to a higher court to have the appeal heard. I don't suppose you asked the judge at the end of the hearing if you could have leave to appeal?

[cosytoes]

no i just burst into tears and walked out!!

can I not just use another N244 and ask the court to postpone the order whilst I get the info from The morgage company.... I can't see them hurrying to post me a breakdown of charges out

Cosy

[Ell-enn]

You'd need to ring the court and ask if they'll accept that.

[cosytoes]

Thank you, i'll do that first thing in the morning

cosy

[Smarterchick]

no i just burst into tears and walked out!!

can I not just use another N244 and ask the court to postpone the order whilst I get the info from The morgage company.... I can't see them hurrying to post me a breakdown of charges out

Cosy

 

You may need the court to make an order for disclosure by Swift of their charges and to quantify the figure they are demanding in settlement. There may be many items you were un aware of and there is also the European Court of Human Rights Article 8

 

ARTICLE 8

 

1. Everyone has the right to respect for his private and family life, his home and his correspondence.
   
2. There shall be no interference by a public authority with the exercise of this right except such as is in accordance with the law and is necessary in a democratic society in the interests of national security, public safety or the economic well-being of the country, for the prevention of disorder or crime, for the protection of health or morals, or for the protection of the rights and freedoms of others.
   

hang in there cosytoes and keep your faith, the cavelry are working to help.

[cosytoes]

Hi

Ok a quick update, I have been at court all day saw a man from CAB who put me onto a solicitor, he told me to get an N244, which i did, Court wouldn't accept it said I needed to appeal.

Spoke to a lovely lady who suggested I put in writing why I thought the original decision was flawed and she would give it to a judge to see if he would allow me to use N244.

So I wrote a letter, attached the lastest morgage statement clearly showing Morgage £167,000 arrears £41,000. I also mentioned in the letter that the representative used the figure of £244,491 in gaining my request for suspension of possession order be dismissed....... but the Judge said I still need to appeal, (didn't mention that I thought he was a lying **** but just stated facts.

Now I have a booklet N161 to fill in please can someone help???

The court says once I fill it in and take it back the appeal will be listed the following day so it doesn't give me much time

Also I have worked out that my offer will clear the arrears in 15 years (still 22 to run) is this good enough or do I need to up the offer?

Cosy.....

[Smarterchick]

Cosytoes,

 

I don't know you so I don't know how much resolve you have to handle all of this, but you are now not alone and you will be supplied with information we need you to be able to handle. First things first - try not worry, take control over this and put yourself , if you can back into the driving seat. The ride might be bumpy, but you can pull through this if you can hold your nerve. Swift are not an easy customer to deal with as you have just established, but they are beatable and you can keep on top of them.

 

Keep telling yourself that YOU are not the guilty one here and Swift are testing you with a certain degree of intimidation which you are actually going to win through. You might not believe it just now, but you will.

 

Ask yourself why they keep your rates at 12% when all other banks reduced their rates in the same way you ask about their repossession figure and you will start to find your resolve.

 

We have the answers, we just have to sell them to the judge and it can get very complex and their defence can be a trifle er?....how can I say?.....economical with the truth in some peoples experiences (allegedly) seems to aptly cover the words I am looking for.

 

Next, I have made it plain above that you really need to get the figures from Swift about the settlement figure they are asking for. You won't get them from Swift as they refuse to supply them so you have to ask for the Judge to order them and what you are asking him to do is to get The Judge to ORDER a Full disclosure of their charges, but there are a few other things you need to get working on when presenting this to the Judge. Getting this together is important and getting to know exactly what it is you are asking is also important.

 

You are going from being on the defence of their intimidation to being the attacker and putting them on the spot - they don't like it, but....needs must, just watch for costs as this is what they use to intimidate and they will try. They will try and do a deal ouside the court perhaps, but get the court to support anything you do.

 

I am not legally trained, lets get that clear so you take whatever legal advice is necessary, but what is provided to you along with others contributions is what needs to be given to your CAB or 'anyone else' legal advisor who presents this to the court.

 

What you are going to do is what we call 'Putting Swift to Strict Proof' - Asking for FULL DISCLOSURE FROM THE JUDGE...what we mean (forgive me for keeping it simple as if you know nothing, but it helps not insult your intelligence, but lets me spell it out as it is) by that is asking Swift to explain EXACTLY:

 

a) what they are charging you and a full statement, and I mean a FULL STATEMENT

 

b) what those figures are based upon,

 

c) what interest they are applying and from when to what,

 

d) how they arrived at the figure which states you are in negative equity,

ie; what Valuation was done and when and by whom

 

e) what the redemption figure would have been should you have asked for it at this time?

 

You also need to get 2 valuations like 'yesterday' from local estate agents giving the valuations as of today or if that is not possible get the latest prices of similar houses being sold nearby. http://www.ourproperty.co.uk/?from=propertyupdate

 

Once you have those and you have removed the Early Repayment figures they would have added to the settlement figure being asked for and their charges you will find that the negative equity figure is not so negative after all potentially and you can afford the repayments in line with the FSA Regulations.

 

This is a link to the FSA Mortgage calculator which you should use to calculate the whole equation.

 

http://www.moneymadeclear.org.uk/tools/mortgage_calculator.html

 

There will be more to come. Hold on in there. If you need anything just yell....I'm not too hot with court procedures & CPR so others might help you on that...Don't worry, you'll be okay I am sure.

 

Suzie

Edited March 9, 2011 by Smarterchick