Shocked - Reposession 11th April

[TimeToStandUp]

Not missed a payment since Dec 2010, had a couple of part payments throughout 2011, and not missed the last 3 payments but shocked to a letter from the solicitors saying they applied for possession. Our arrears are £2.6k, our mortgage payments is £858 a month.

 

The solicitors wont talk to us, and the mortgage company so its down to the solicitors.

 

We was last in court May 2010, and they warned us if we are to return we would lose the house..

[TimeToStandUp]

Correction last time I was in court was December 2009...

 

In the last 2 years I have had to needed to pay £12,800, and have paid £11,900..

 

I thought they repossesed only at the last resort.

[Ell-enn]

Hi there, have you got an eviction date yet?

[TimeToStandUp]

Sorry, should of made it clear that eviction is the 11th April, I spoken to the solicitors today and they want full payment of arrears which is £2.6k, I have offered £100 a month.

[Ell-enn]

Can you afford £100 a month ? Have you got an N244 to fill in? if not I can affix one - do you need help with a statement to go with the form? You will need to get the form into court tomorrow if you are to get a hearing before the 11th - I'm not sure how long courts are closed over Easter.

[TimeToStandUp]

Strange that I contacted the mortgage company, who refused to speak to me as its in the hands of the solicitors and down to them, so I spoke to them put an offer in writing, and they referred it back to the client who rejected it wanting full payment to stop repo.

 

Then in the next paragraph asked for budget sheet, and for me to make a monthly offer...

 

I done all the N244, and will give the solicitors one last call in the morning before going to file it at the court.

[Ell-enn]

Have you quoted the Norgan case law and Administration of Justice Act ?

[TimeToStandUp]

Yes I quoted it, get knocked back by the mortgage company today for the £100 a month..

 

I got a hearing at 10am on Wednesday 11th as no judges are working on Tues, our eviction is 12:30 on Wednesday...

 

If the worst does happen, and I am confident it wont, will they still boot us out that day as we done no packing and got no where to go and after 16 years in the house we got a lot of stuff

[Ell-enn]

If you have been maintaining payments since Dec 10 and the arrears have reduced to £2,600 I cannot see a judge giving them possession. However, I would imagine this will be your last chance to save your home so you'll need to keep strictly to the payment arrangement.

[TimeToStandUp]

Wow.. that was the scariest and most worring session.. I made the point in my statement that due to current works undergoing in my house, ie I am "slowly" moving the kitchen in the house and a bedroom downstairs, that it would effect the sale of my house and put me in negative equity and for the sake of £2.6k arrears it would make me prob £40k worse off.... Bad move on my behalf...

 

There solicitor used the Cheltenham & Gloucester plc v Krausz case, to which if in arrears then its handed back to the mortgage company.

 

My saving grace is that they did not have any figures to base the current value of my house, and you could tell the judge wasnt comfortable, despite how good the argument was due to the fact that I still have over 20years left.

 

Result is that its now suspended

[Ell-enn]

this is the Krausz ruling - Cheltenham and Gloucester plc v Krausz [1997] 1 All ER 21, CA. In that case, the Court of Appeal ruled that if the proceeds of sale were likely to discharge the entire mortgage debt, then the court did have power under section 36 of the 1970 Act to suspend a warrant for possession in order to enable the mortgagor to make an application for sale under section 91 of the 1925 Act. However, where the mortgage debt would not be fully discharged on sale, then, in the absence of other resources available to the mortgagor to make up the shortfall, the court had no such power.

[TimeToStandUp]

When he brought that out my heart sank, I felt certain I had lost the house without any hope..

 

My luck is that all though the Solicitors and Mortgage Company was very aggressive, they failed to prepare the argument and neither had any real valuation of the house.

 

Angers me for the sake of what I was in arrears I could of been potentially owing 40 - 50 k... then only one option and thats to be bankrupt.

[TimeToStandUp]

Also just rembered that my mortgage company shot themselves in the foot, I offered £100 a month repayment, speaking with their solictor prior to the hearing he asked if I could do £200 and he put that offer to them, they rejected it.. But the judge said he was worried about me paying £100 so ruled £75 a month payment. The judge stated I was to pessimistic and to honest !!