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sourlemons

LLoyds house repossession? Urgent hearing June 4th

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Hi,

 

i have a repossession hearing on June 4th. I have about 230k of equity in the property.I want to ask the Judge if he’ll let me sell it.  

Is this possible?

I’m really worried I’ll end up with nothing if the mortgage company gets it and sells it just to cover their mortgage and costs? 

How do i word it?

What law do i use?

Is there any?

 

Thanks 

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Hello and welcome to CAG.

 

Ell-enn is our repos expert, but I have a couple of questions that might help her to advise you. Can you tell us who the loan is with and why you're facing repossession please?

 

Best,

 

HB

 

Thread title amended fro clarity


Illegitimi non carborundum

 

 

 

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Hello! Thank you for coming back to me!

 

The Lender is Lloyds and I've missed a few payments. 

 

Thanks

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Thank you. How much are the arrears please?

 

HB


Illegitimi non carborundum

 

 

 

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Your equity in the property is what's left after the house is sold and the mortgage, arrears and any legal fees are paid.

 

Are you in a position to pay the mortgage and an amount towards the arrears each month?

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have you submitted your defence forms to the court?


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My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

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I haven’t submitted anything yet and I can’t pay anything either towards the arrears or the monthly payments. 

 I’ve been burying my head in the sand for a few months...... :(

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OK,  if you don't submit a defence or attend the repo hearing the lender will get an outright possession order they can then apply for an eviction warrant.  You would then have to apply to the court for a hearing to stop the eviction, but if you have no means to pay the monthly mortgage or anything towards the arrears the judge's hands will be tied.  You can ask for time to sell but you would have to provide documents to prove it is actually up for sale i.e contract from an estate agency and proof it is being marketed, adverts, photos etc.   and it's not guaranteed you'd get time to sell.   Have you got anywhere else to live if you're evicted?


Help us to keep on helping

Please consider making a donation, however small, if you have benefited from advice on the forums

 

 

This site is run solely on donations

 

My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

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3 hours ago, sourlemons said:

Hi,

 

i have a repossession hearing on June 4th. 

 

I have about 230k of equity in the property.

 

I want to ask the Judge if he’ll let me sell it.  

Is this possible?

 

I’m really worried I’ll end up with nothing if the mortgage company gets it and sells it just to cover their mortgage and costs? 

 

How do i word it?

What law do i use?

Is there any?

 

Thanks 

 

Hi,

 

My mortgage lender already have an outright possession order against my property and I put house on the market for sale last week multi-agency - Hoping to have a chance to sell it myself and avoid eviction in the meantime. Hope that helps. 

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