Lender threatening repossession..

[BAGHAG999]

I was in this situation years back.
I managed to get out of it by getting the morgage company to extend the morgage and pay just the interest for a few years.
Another way to go is a bit painful by downsizing and maybe moving to an area where housing is cheaper which im in the proceeds of doing now.
The last thing you want is to be homeless and paying rent.
I also did a lot of carboots which netted me 100.00 + on sundays and this is what got me out off trouble.

[redpoison]

houses are well cheap on corronation street.. lol

[PATRIOT73]

houses are well cheap on corronation street.. lol

[QCPOTS]

We are in a dire situation - hubby has been out of work for five months and our funds are diminished. The mortgage lender is now threatening repossession and I don't want to lose my house as I love it.

We are paying what we can but have a high mortgage (hubby was a high earner when employed) and my salary just don't cover everything.

We have spoken to the lenders and paid what we can but it's very little and the arrears are building up.

How easily will they repossess if it comes to it, and has anyone else been through this and come out the other side?

Thanks
K x

Hi raza , you don’t mention why your hubby is out of work,

Is it through illness or accident, or signing on jobseekers,

I would check with DWP, see if you are entitled to mortgage assistance,

The CAB, would also advise you of this, And make sure you are claiming ALL YOUR ENTITLEMENTS, including income support,

But as its been suggested, don’t sell your goods, if the inevitable is going to happen, you will have lost them for no actual gain,
Keep talking to your lender,

And remember ,, THEY have to get a court order, to remove you,

And in the present economical climate, as long as you can show to a judge you are making every effort, to meet your obligation, and trying to find work,
Or due to illness or injury, you are pursuing a claim with the DWP, for mortgage Assistance,
Its doubtful you will loose your home,


GOOD LUCK,

[razamakaz]

Thanks everyone - so kind.

Hubby is out of work because he cannot get a job - he's an IT contractor and his last contract was in December - since then, no work. Prior to that very short (6 week) contract he was out of work for a few months because of no positions. It is possible he could get a job next week, but I am having to act now in case the worse happens. We have (with agreement) paid very small mortgage payments for the past five months and have done all we can.

He is looking for any work - full time, contract - he has an interview for some part time bar work next week so that will help a little, but he's "too qualified" for most jobs (work that one out!) and "not qualified enough" for others.

Anyway, at this moment in time I am worrying. This time next week he could be in work - that's how it goes, but with the current climate, it is not looking good.

[val58]

Thanks everyone - so kind.

Hubby is out of work because he cannot get a job - he's an IT contractor and his last contract was in December - since then, no work. Prior to that very short (6 week) contract he was out of work for a few months because of no positions. It is possible he could get a job next week, but I am having to act now in case the worse happens. We have (with agreement) paid very small mortgage payments for the past five months and have done all we can.

He is looking for any work - full time, contract - he has an interview for some part time bar work next week so that will help a little, but he's "too qualified" for most jobs (work that one out!) and "not qualified enough" for others.

Anyway, at this moment in time I am worrying. This time next week he could be in work - that's how it goes, but with the current climate, it is not looking good.

Hi
Try contacting Payplan they are a free advisory service set up by the government. They were on TV during the news the other night and they were saying that people were loosing their houses when they didnt have to as they can help with legalities and solutions. they are not one of theses debt solving companies.

Heres the link

http://www.payplan.com/


God Luck, things are not as bad as they seem. Hubby and I are both out of work at the moment and facing similar. Asda and the likes wont employ me as I am too qualified and as a nurse there are no jobs out there. I have two interviews next week and hubby may be going to Holland as he has the possibility of a job out there. ( hes been before, not happy about being away from home but its got to be done) so fingers crossed things may turn around. The jobcentres do help with your mortgage (found that out last week when I registered...now that another long winded story!!) and any secured loans you may have on your property, plus your council tax so if you havent already get registered. I do occasional freelance work as and when so i thought I could not register but I can so long as I declare at each sign on work done and payment received.

Hope this helps.

Best wishes

val

[razamakaz]

Thanks Val - I don't have problems with legal costs as I work for a legal firm so get them free, and I work in the secured lending section. However, there may be specialist places out there for this specific thing that can do more - I will investigate tomorrow.

[fatbird]

Good luck I hope you manage to get sorted out.We have not been that far down the road but we did start to slide...we were just lucky that hubby managed to find a well paid job albeit in another county...he had to live away for the week but it saved us...if it were to happen now...I have to be honest I think I would just try and sell to pay the morgage off and then rent....
ButI would agree you need to go and talk to people and get it sorted.I know one thing from experience....ignoring the post on the mat doesnt make it dissapear....I tried that one...
best wishes
Fran
x

[razamakaz]

I've just been on the payplan site and it's quite encouraging. Hubby will get a job sooner or later - we have been on this slope several times with the way the market has gone, but never "quite" this bad. As I say, he could be in work within a week and then we can work out a plan with the lenders. It's just bridging the gap in between that I am concerned about and that we can struggle through with some help.

Thank you everyone - I love you all

[DaisyChain]

Hi raz

Im not sure what job sites your hubby may be looking on, but a good IT jobs site is:

www.cwjobs.co.uk

Also, although they can be tedious and mess things up, try agencies like reed.co.uk and adecco. Paticulary adecco, as I work for them and have done in the past and they are the type of place that can get you a job in a week