Dreaded mortgage reduction letter arrived!!!

Hi Mm
Thought about you today and wondered how you got on. Its good that you have someone in your corner that can take some of the burden. Know its not easy being in limbo land as to housing, keep strong, it will work out, hey you wouldn't be good publicity, on the streets with the gov saying they would protect and take care of the vulnerable.
take care

Carole

Hi there Millymoo
Wondered if you got on Council waiting list ok as I got told I need to be homeless before I can go on mine. Are you in a mortgaged house presently same as myself ?

Hi Dave

I hadnt looked at it like that!!! Thank you for posting the link i will look on there and see what else i could do!! The £165 that i have been paying for the last year would come in very useful for gas and electricity!!! There is no way i could even think of affording the £310 that they will now be wanting. But if i am going to lose my home anyway i may as well sit tight and deal with the situation as and when it happens.

I was actually expecting a little bit more advice from welfare debt advice, so i feel quite cheated as my hopes were raised, only to be dashed. I have an excellent credit rating, but this will change whether i pay all of mortgage, some of it or none of it. Your post has certainly made me think and reconsider. The only good thing to come out of taking advice from WDA and housing team is that it will increase my priority with the council as i will be awarded additional points!!

It does upset me that i will lose my near excellent credit rate, but my sanity is worth so much more. I am in the mind to ring my mortgage company and hand back the keys, just to get out of this mind numbing situation. At least i would be able to move forward with my life, as my nerves are in tatters at the moment!!!

Once again thank you so much for your post, i really do appreciate it!!

Mm

Hi Carole

Thank you so much for your kind words and support. I read your post last night but my mind was in turmoil!!! I am so grateful to have your support at this time, but also appreciate you must have problems of your own. Its a scarey time out there for all of us, i just hope some day i will be in a position to return your kindness and compassion that you have shown throughout my journey.

You are truly a good person for which i am grateful! Thank you! Without this site i dont know where i would be!!

Mm

millymoo wrote:

I am in the mind to ring my mortgage company and hand back the keys, just to get out of this mind numbing situation. At least i would be able to move forward with my life, as my nerves are in tatters at the moment!!!

Once again thank you so much for your post, i really do appreciate it!!

Mm

Hi Millymoo,

Although I am definitely no expert on such matters and I am not a solicitor, I know one of my colleagues is dealing with a case where similar has happened (but due to other circumstances) in that the house keys were returned to the Building Society, before the Building Society actually foreclosed and before they started the eviction process.

However as there was some equity in the house, which subsequently sold at auction for less than market value, the person involved is being treated as having notional capital under the disposal of capital rules.

I would strongly advise anyone contemplating this sort of action to obtain full legal advice (preferably in writing) from a Solicitor before doing anything and to ensure any action taken does not lead to future repercussions.

Pete

It may be worth checking with Shelter.

I've read somewhere that if you're attempting to sell your home and your case goes to court for repossession, the judge can allow you extra time.

Another great source of help is here:

www.debtquestions.co.uk/debt_forum/

The people on this forum are very knowledagble and just like here will do all they can to help and advise.