Possession Claim - 3 years arrears

[Lea_HTH]

You can put the house up for sale - but unless you can exchange contracts before the 28 days is up, then you're not going to be able to stop the mortgage company repossessing. If, however, you find a buyer, and you can prove this, you can make a stay application on the possession order and request time to sell on the basis that you have a buyer. It would be a very hard hearted judge who refused that kind of application - but the buyer has to be real (you'd do well to take said buyer into court as a witness).

 

If you can borrow a lump sum from your parents to pay off the arrears, or a substantial part of the arrears, you can make a stay application and if you can show you have substantially reduced the arrears a judge may stay the eviction.

 

There are no guarantees, but they are definitely worth a try.

[Ell-enn]

Did the judge not consider your offer of payment? Can you give a more detailed report of what was said in the hearing.

[greatburdon]

Hi Ell-en,

The judge basically said the length of non-payment was causing him grave concern, there had been ample time to resolve issues and simply not paying was something he could not understand. The mortgage appeared to him to be perfectly valid and he agreed that a possession order should be granted.

The judge looked at my offer but did not really comment and focused more on the non-payment and therefore the enforcement.

 

Lea .. Any sale is unlikely to be completed in 28 days .. the market is slow and a house 2 doors down has been up for sale for 18 months so that is unrealistic .... As far as borrowing money goes I would only do so if it was certain that would save the house and judging by your response that may not be so.

 

To say i'm devastated is an understatement and am now at a total loss as to any way forward.

 

GB

[Lea_HTH]

Of course a sale in 28 days is unlikely, which is precisely why I phrased it the way I did. You'd need a cash buyer - and cash buyers tend to be savvy and will know you're selling out of desperation, so your bargaining power goes out the window - it's all on their side. But, it's not impossible - it depends on whether you want to retain control. If the property doesn't sell for 18 months, it's going to be in a state of disrepair, and therefore will command a smaller price - leading to more likelihood that at some point you're going to be left with a shortfall. Plus, repossessed properties tend to sell at lower than the average market price.

 

If you borrowed money and cleared the arrears, you'd almost certainly be able to stay - but it would still be up to the judge. Seems from what you say that he was concerned about the lengthy non-payment, which was obvious from the outset, and even though the statement Ell-en prepared didn't dwell on the advice you were given, the judges have seen it all before and can read between the lines. Anyway, the point is, if the arrears are cleared and you can show you can afford the ongoing payments, then any reasonable judge will give you another chance.

[greatburdon]

Thank you for your response Lea - I greatly appreciate your advice ...Thank You

[sponderela]

.

 

To say i'm devastated is an understatement and am now at a total loss as to any way forward.

 

GB

 

greatburton, dont be sad, i am sure there will be a way forward. I came within 45 mins of eviction today and with the help of the people on this site i have a reprieve. Only a small (3 weeks) one but its extra time to work on a solution.

[terriersaregreat]

So sorry to read this and know the trauma you are feeling this evening as I've been there. Fought it to the last but lost.

 

I would advise you that you should use this time to try and agree some sort of settlement with the mortgagee. I was told that until the property was actually sold even when we were no longer in possession it wasn't too late to negotiate. Be determined to try and negotiate use everything you can to pursuade them that it would be better to let you stay than risk selling at a loss at some time in the future.

 

Keep your chin up try and keep positive, professional and strong. That way you will be more convincing.

 

My family was lucky and a friend helped us find private rented accomodation after we were evicted, from there I fought back. That's another story for the future.