help and advice needed please

[xprettypeachx]

Hi Not very good with things like this so will try my best not to rabble on! Am in desperate needofadvice please.

 

In 2005 took out a mortgage and unsecured loan with my ex ( we have 3 children together), I used a gift of £140000 as deposit, this was from my step father to help me on the property ladder.

 

In 2005 we split up, he walked out on me and the children. I went to csa around 2 yrs ago now as I was worried he wouldnt pay for the children, I have been paying the mortgage on my own. I have struggled so much its unbelieable.

 

I fell pregnant ( not my ex) last yr and have been on mat leave since april I am now struggling to pay the mortgage. I am single with 4 children.

 

The house was on the market to be sold up untill last year but i only had 5 viewings in something like 2 years so i took it off the market intending toput it on with another estate agents straight away, but i fell pregnant, i was working around 50hours a week and looking after the other 3 children alone, and i just didnt get round to doing it.

 

The mortgage is in my name and my ex's name

The house is in negative equity

He is demanding i take his name off ( he has since remarried acouple of weeks ago)

he is texting me today saying that since he hasnt paid for the mortgage for 4 years now he should be taken off.

Im worried that I will be landed with all the debt from the house.

I am worried he has been taking out loans etc against the house ( i wouldnt put it past him to forge my signature)

 

I havent got a clue what to do, im thinking of asking the local council about the mortgage rescue scheme.

 

please can someone give any advice.

 

thank you

[gemspan]

I would suggest that you speak to Shelter and get some advice from them as top what your options are. Good luck. You seem to have been struggling for such a long time. It must be very difficult for you.

[xprettypeachx]

Thank you. I am going to try and book a solicitor today for a 1 hour free appointment, as well. I sometimes feel like i am all alone, with so much weight on my shoulders so thank you for listening x

[Lea_HTH]

Are you in arrears on your mortgage? Mortgage Rescue tends to only 'come to the rescue' when things have got dire and you are facing possession. But that doesn't meant that you should not contact the local authority to see what other assistance they can offer you.

 

The mortgagee is unlikely to allow your ex to take his name off the mortgage, particularly if there are difficulties, as it is easier for them to have two people to share the burden of the debt (to chase if necessary). They may be prepared to take him off if your income sufficiently supports the mortgage however, and if you've been paying for four years that might be the case. You can check whether there are any other charges secured on the property by obtaining that information from the land registry - you will pay a fee of £4. If there are any charges that you do not recognise and that are nothing to do with you, then you will need to see a solicitor as what you will want to do is ensure that you do not have to repay any loan that you were not party to.

 

If you do sell the property, then your £140k gifted by your step-father, should be returned to you IF there is sufficient equity in the property.

 

Remember that your ex is still financially responsible for the children, and for providing a roof over their heads - has the CSA worked out payments for him?

 

Do you still want to sell the house? What is the best outcome that you are looking for?

[xprettypeachx]

Hi thanks for your reply.i am not yet in Arrears but will be after this month.i have an appointment with a solicitor on tues to see what they say.do you know where i can get the information on the land registry please? my ex knows full well that we are probably going to end up owing alot of money that is why he is so desperate to take his name off and leave it all to me.he does not know that i am now struggling to pay the mortgage but i think he must have guessed.

the csa have worked out payments for 2 of his 3 children the other child has left education so i no longer get anything for her.

to be honest the best result would be for me to somehow quickly sell the house and resolve issues that way.i don't particulary want to stay in the house as its in quite bad condition and i seriously think its dangerous for me and the children to live in.

[xprettypeachx]

sorry forgot to say, the gift from my step father was £14000 not £140000.

[Lea_HTH]

You can get info on the land registry here: http://www.landregistry.gov.uk/

 

If you feel that selling is the best option for you, then you should pursue that course of action. If you are going to default on the mortgage next month, I strongly suggest that you contact the mortgagee now and explain your situation to them (preferably in writing). If you are not already on interest only, they can consider that as an option - they can also consider a payment holiday for you until you are back in full time work; they will also appreciate the fact that you have contacted them before the problems arise and will hopefully do their best to assist you.

 

If you write to them, don't forget to mention that you would like them to show you some forbearance in your time of need. That is part of the pre-action protocols, so they will be familiar with the term.

 

You have an advantage over many people - you are asking for help before you get into trouble, so there is a strong likelihood that you will not end up in court for possession proceedings.

[xprettypeachx]

ok thank you very much for your advice lea it is very much appreciated.

[Lea_HTH]

You're welcome, let us know how it works out.

 

Good luck.

[xprettypeachx]

sorry to be a pain but i am looking on the land registry website and am unsure what I have to click on to be able to get the information i need. sorry again.

[xprettypeachx]

its ok lol i have found it! thank you

[Lea_HTH]

Only saw this now, so glad you found it!

[xprettypeachx]

Hi Please could someone scan over this letter I am going to send the mortgage company to explain my hardship. I have used a template but filled in my relevant info. any feeback would be gratefully recieved before I post tomorrow. many thanks.

 

To Whom It May Concern:

 

I am writing this letter to explain my unfortunate set of circumstances that is causing me to become delinquent on my mortgage. I have done everything in my power to make ends meet but unfortunately I have fallen short and would like you to consider working with me to modify my loan. My number one goal is to keep my home and I would really appreciate the opportunity to do that.

 

The main reason that caused me to be late is that I am currently on maternity leave and my income is not nearly enough, I fear I am going to fall further and further behind. Now, it’s to the point where I cannot afford to pay It is my full intention to pay what I owe. But at this time I have exhausted all of my income and resources so I am turning to you for help.

 

Since July 2008 I have managed with mortgage payments on my own, and have not missed a payment up untill now I have worked full time as well as look after 3 children single handedly,Mr J **** walked out on me and his children in july 2008 and has not contributed towards the mortgage whatso ever since.

 

I am currently seeking help from the Mortgage rescue scheme, as I feel that my situation will continue untill at least March next year when my maternity leave ends, and fear I will fall further and further behind, without help.

 

I truly hope that you show some forbearance in my time of need and help me out in my unfortunate circumstances at this time.

 

Sincerely and Respectfully,

[Lea_HTH]

Dear Sir/Madam (it would be preferable if you could phone them and ask for a named person to send it to)

 

I am writing to you in advance of potential issues with my mortgage payments. I have done everything that I can to ensure I can meet my mortgage commitment, however circumstances have meant that difficulties have arisen which have been unavoidable.

 

I am currently on maternity leave and will be until March 2013, so my income is less than it would normally be, but will rise again come March 2013. In the interim I am asking you to make some concessions which would enable me to continue to meet my obligations. As you are aware, this mortgage is a joint one with Mr J ______. Unfortunately our relationship ended in July 2008 and he has not made a contribution to the mortgage since that time. I have managed to pay it by myself and, as you will already be aware, have not missed a payment until now. I do hope that this will show as a positive in my favour. This is not a case of 'can pay, won't pay' - I am genuinely having financial difficulties, albeit temporary ones.

 

I have made enquiries with regards to the Mortgage Rescue Scheme and the Mortgage Protection Fund, which may be able to assist me during my time of need. I await responses from the department at the local authority that deals with these matters.

 

In the interim, and in case MRS cannot help, could you please make some suggestions as to what you are able to offer me during this time? I understand that the pre-action protocols suggest forbearance, and would ask that you consider any available options open to me, including interest only for a period of time, reduced payments for a period of time (I reiterate I will be back in full time work in March 2013), or a payment holiday. I have enclosed an income and expenditure form so that you can see the amount I have available.

 

I look forward to receiving your response.

 

Yours faithfully (if you use Sir/Madam) or Yours sincerely (if you find out a named person to send it to).

 

 

You will need to complete an income and expenditure form (top of the repossession forum is a sticky thread by Ell-enn which includes one that calculates as you fill it in).

[xprettypeachx]

Thank you so much that is definatly better than mine! thank you