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'Lewis' Field representative visit on CCJ/CO Northern Rock Shortfall


Mr Worried
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as you know - i have been in this situation and as i understand it - you cannot sell at a price which will not cover the mortgages owed without the permission of the mortgagees, it is a catch 22. Never had any cos but again they are going to want a cut. I was lucky and managed to sell for just enough to get rid of the mortgages plus their extortionate charges and have £2,000 left when i should have had £20,000 plus but the market was better then. I will tell you though that at the time it was horrendous but just getting out of this situation and a 'fresh start' is extremely beneficial. I could not go with 'buy your house' companies as it did not cover the costs. I regret not challenging the charges, penalties with fos which i did start to do but was unable to deal with...........hi cole, i dont have a choice about the amount it sells for? As at the moment the market dictates this? Would this be the same if it went to auction?

 

If you get out and leave, the mortgagees will fight over the spoils nr will get first bite and anything left will go to second dog. The ones with cos will probably get nothing.any debts will revert to unsecured loans and depending on the amount owed it may be worth going br, again just to get a 'fresh start'. Understood.

 

I am a bit concerned that you are looking at an alternative that is £1,400 a month! I could not pay my mortgage as the the sub prime lender increased the payment to £1,200 a month from £750. My rent is now about £400 a month. Your rent should never be more than a third of your income ideally, if it is - you cannot afford it and are going to have problems as you have council tax and other priorities to add on...the alternative is not £1400.00 per month??that is what it costs me now! I will be halfing my outgoings by leaving...

 

You can request a breakdown of everything owed and in time you can probably challenge all of this under fos and the mortgage code. How do i do that, obviously i would need the info from the mortgage people?

 

And strip the bloody house - down to the lightbulbs!

really????? Everything??????

 

No doubt we will be communicating over the next few days, cheers for your input.

 

Mr slightly undecisive at the moment.

Regards..Mr Worried :)

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  • 2 weeks later...
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wow, mr worried, your situ is very similar to mine whe you refferred me to look at your thread from mine....I dont live in mine and expecting a shortfall of a whacking £55k-£80k, it got me down before but not now.......

 

All the Caggers on here have been great! once you leave the house pre-repossession your train of thought will be totally different and you will have to change your user name to "Mr Relieved"...the sad thing for me is because of this situ i will have to apply for bankruptcy but i will apply for an "order of sale" when i get the bailiff appointment just to see if i can reduce the debt then challenge the ridiculous charges then way up the final figure as to whether BR is the way forward.

 

I am just waiting for clarification on my thread whether O.O.S. is going to jelp me, i wish you all the luck in the world with your situation.......

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  • 3 weeks later...

UPDATE UPDATE

 

Perhaps squeaky bum time, sorry for the expression! but you know what I mean.

 

OK so most of the posters here are up to date with my plight.

 

In a nutshell I have received eviction notices today from Nram and secured loan company, approx 2 weeks to eviction.

 

We have found another property and have the keys, but there has been a setback and cant move till early December, should I apply N244 to request the eviction adjourned, moved to another date? to allow us to move etc????

 

Should I write within my N244 a nice letter saying ' hands up ' sorry but being realistic and struggling for over 2 yr, I accept the eviction and would like to thank the courts, and lenders their cooperation during my difficult times???

 

Now before it goes to auction can I sar both lenders etc as I know there are loads of charges within accounts and get them removed to reduce final shortfall?

 

The estate agent that has been assisting with marketing the property have been very unproffesional for the 3 yr they have tried to sell the home, I have complained lots of times about lack of comms and that I always had to ' chase ' them to follow up previous viewings?

 

I want to remove the estate agent and our contract, and do not want them to get involved with the sale. I also know that they disclosed some of my affairs to a 3rd partie as the 3rd partie told me so? do I just do a letter of termination citing reasons?

 

There is a national homebuyer that made us an offer a few weeks ago, it is a crazy offer but one that I believe wont be beaten at repo auction, I am thinking of selling it to housebuyer and at least I rid the stigma of repo auction?

 

As always I look forward to your replies.

 

Mr W but not paniking

Edited by Mr Worried

Regards..Mr Worried :)

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Hi Mr W

 

Yes, a N244 would be the way to go now, but don't bother SARing them, it would tsake too long and wouldn't ge the info you want. I think this is where you can invoke CRP rules and do a CPR request for the information you want.

 

I think you would need to formally close the deal with the Estate Agents, clearly they have not acted in your interests, you would need to do a 7 day notice of legal action to them as they have 'aided and abbetted' in the repossession you are now experiencing - also a complaint to Trading Standards would not be amiss.

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Hi Mr W, so you've finally made the decision - I'm sure you are doing the right thing, you can't go on defending eviction notices as the courts will finally put an end to it and at least this way you are prepared and have made arrangements for moving. Do you have any details of the property you are going to? you would really need that to back up your N244 asking for time to stay in the present house until you can get into the new one.

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Hi mr worried,sorry to read that things havn,t worked out since the suspended repo order,sounds as though the past couple of years have been an uphill struggle to say the least and i know from the previous threads you have done all you could to stay in your home,but it sounds as though your at the "enough is enough" stage and want shot of the place and after all that struggling and juggling debts around who can blame you.

 

Due to the past history i cannot see a court allowing you the time to sell on the open market,lets face it you would be starting from scratch again with a new estate agent,plus the fact its been on the market 3 years makes it unlikely you would be given that option.On the other hand you also dont want it repossessed by the court either,you can bet it would go for a pittance at auction but as it stands at the moment thats the most likely outcome in my opinion,the only way i can see to stop a repo is if you can show the judge you have a buyer at the hearing,you caught between a rock and a hard place and thus your options a very limited ,so here,s what i would do if i were in your position.

 

You have a rental property to move into albeit in December,although it pains me to say it i would take the companies offer that you have been in touch with and ask for a 56 day postponment of the eviction order untill the sale goes through,this option would give you 56 days which would buy you the time to move into the rental property and tie up any loose ends .This is what i would be applying for on the n244 form and to be honest i think you would get that,in your present position thats what i would do.

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If you sold to the house buyer would there be enough to clear the mortgage and secured loan ?

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Hi All. Just an update and quick question.

 

If you sign a contract to allow your property to be auctioned then it dosent sell at auction, then an offer is made by an independant partie, do they have to go through the auctioneer to purchase? as in my scenario this is what has happened, and auctioneer said I signed a contract to allow them to sell the house, but they didnt, so why should they be the agents?

 

Cheers

 

Mr W

Regards..Mr Worried :)

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Hi All

 

Crunch time, I need to do an N244 by tommorow as I have confirmation of an offer for my home, and need this into court asap in the morning as eviction is Thursday.

 

Any help in putting together a strong defence to allow the eviction to be adjourned for a few weeks till buyers survet etc is complete?

 

Mr

Regards..Mr Worried :)

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Have you got documentary proof of the offer? I have to be honest and say that you might struggle, given the amount of times you have had eviction stopped and also the fact that you only have an offer, the sale process is not underway - that is what the judge would be looking for i.e. confirmation from the conveyancing solicitor that there is a completion date for the sale.

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Have you got documentary proof of the offer? I have to be honest and say that you might struggle, given the amount of times you have had eviction stopped and also the fact that you only have an offer, the sale process is not underway - that is what the judge would be looking for i.e. confirmation from the conveyancing solicitor that there is a completion date for the sale.

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Would the offer you have received clear the mortgage and all secured loans on the property ?

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I'm not sure you can sell if you won't be able to clear all monies secured on the property - have you checked the position with the solicitor handling your sale ?

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Hi at the moment I dont have a solicitor as I am awaiting survey by Lloyds for the buyer, I have an email from the auctioneer who sold the property saying that their offer is xxx and that they have paid their survey fee.

 

I just need to submit an N244 ASAP so that I can see judge before eviction at 11am tommorow, can anybody assist the format as I have forgotten how to do it, and I need a correctly worded letter to explain why the property should not be repo'd and allow the sale to continue as it will bring more market value than an repo auction sale.

 

Please, Anybody?

 

Mr

Regards..Mr Worried :)

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I'm at work at the moment and got meetings for most of the morning - can you not use one of your previous N244 statements and adjust it to suit ?

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I think you ought to change your username to Mr Lucky!:biggrin1:

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Well done mate, sorry I have not been in touch - will send a message, but you seem to be getting this sorted!!I managed to get repo suspended for up to 6 months as a sale was going through even though it was only at offer stage! Nice judge and had a sol but still got stung for massive costs and penalties by corrupt mortgage company. I am not much help really as totally screwed mine up but you are heading in right direction

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Hi ell and Cole,

 

Well it was ok today, I was really confident and never twitched as I had a good case and my defence was water tight, Me and rent a sol had a chat in the 'room' and he told me he was instructed to oppose adjournment etc, but I told him that the dj has more discretion than he thinks and not beig cocky mate but if I dont get this susspended, giving the circumstances, then your granny is my aunt!

 

In the room with the dj, I knew as soon as I said my peice after the rent a sol ' killed ' me it was going to go in my favour, me and the sol had a chat afterwards and he even wished me good luck.

 

All in all, a good day.

 

Mr W

Regards..Mr Worried :)

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