Jump to content


Suspending Eviction Order


LynnA25
 Share

style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 2341 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

Our interest-only mortgage with GE Money expired last year and as we were unable to pay off the balance or remortgage,

the Court granted a 56-day possession order in April 2015.

 

 

A week or so before the court hearing we put our property on the market for £385,000.

 

 

We have since received a date for eviction (28th July).

 

 

On receiving this notice, I called GE Money and explained that the house is for sale

(we'e since reduced the asking price to £335,000 as there has been little interest).

 

 

They said that if we managed to find a buyer and exchange contracts, they would call off the eviction.

 

 

Do you think it's worth us completing a N244 form and asking the judge to suspend the eviction on the grounds that we are trying our best to sell the property?

Link to post
Share on other sites

You would probably obtain more money for the sale selling it privately than letting the bank repossess it.

 

http://england.shelter.org.uk/get_advice/repossession/going_to_court/what_the_court_can_do

that link gives some details.

 

I am guessing that if you can show the court your house is for sale with an expected completion date, the court would allow you.

 

As your mortgage was interest only, it may be worthwhile investigating if your mortgage was mis-sold to you.

There is a lot of info on google showing mis-sold interest only mortgages.

Link to post
Share on other sites

Lynn have you tried equity release? If you have a relatively small loan to value, and are in your 60s or beyond, it might be possible to swap your mortgage for an equity release plan. Could be worth looking into if you particularly want to stay in your house.

 

 

And yes it makes sense to ask a judge for his opinion. In my experience judges are much nicer and fairer people than mortgage companies. :)

 

 

Mis-selling is a bit of a long shot since you have to prove you were not made aware that you would need a mortgage repayment vehicle. Did you have one and cancel it at some stage?

Link to post
Share on other sites

Our interest-only mortgage with GE Money expired last year and as we were unable to pay off the balance or remortgage, the Court granted a 56-day possession order in April 2015. A week or so before the court hearing we put our property on the market for £385,000. We have since received a date for eviction (28th July). On receiving this notice, I called GE Money and explained that the house is for sale (we'e since reduced the asking price to £335,000 as there has been little interest). They said that if we managed to find a buyer and exchange contracts, they would call off the eviction. Do you think it's worth us completing a N244 form and asking the judge to suspend the eviction on the grounds that we are trying our best to sell the property?

 

Worth trying, especially if you can show you're proactively trying to sell. Have you had any viewers, and if so, what feedback have you had.

 

I've seen some worrying reports on equity release schemes and would advise caution before resorting to this.

 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

Link to post
Share on other sites

yes agree proceed with EQ release with extreme caution.

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

Link to post
Share on other sites

 Share

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...