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Has anyone had their house repossessed?(11 Posts)
So this morning I've had the letter I've been waiting for - the mortgage company are taking me to court for repossession.
So what happens now? Does anyone know?
I'll make an appt with CAB next week, but just wondering a few things....
What happens when we try to rent privately? How on earth am I going to be able to provide references?
Sorry I have no idea but didn't want to leave you unanswered so bumping for you.
Must be very stressful
for renting you'll need a guarantor....i would start trying to find someone willoing to stand as one,now. as they can be difficult to arrange,and agencys who rent will do checks to ensure they can meet your rent for you should you not pay one month!
its alot to ask of someone.....is there anyone do you think?
Theres social housing too,I dont think that your situation is unusual these days- dont worry too far ahead.
I think even when you have had this notice theres still time to resolve it if thats what you want.
social housing is hard come by though...are you on any list? maybe need a guarantor there too....dont know.
I would speak with CAB and go to the local housing office.
It is alot to ask somebody to be a guarantor, I don't know anybody who would be willing to do that.
Sorry you're going through this.
I've never needed a guarantor when renting (x3 in London with DH).
My PIL would stand guarantor, I'm pretty sure. I work full time, dh has been unemployed for 2 years - I fell behind on the mortgage payments because we're struggling to make ends meet - the usual story. It's not an unwillingness to pay, just that after a while, obviously they start expecting you to be able to pay off some of the arrears on top of the mortgage payment... it's just not doable.
As soon as the weekend is over I'll try and make an appointment with CAB, and possibly housing association.
Sorry you're going through this . I've been there (but from a slightly different angle as it was a rented property we were in)
Ring shelter - they will be able to take you through all your options. It takes a while to get through as unfortunately there are lots of people affected by homeless isssues ...but it's well worth it imo.
When you say your mortgage company is taking you to court do you have the actual notice to reposess from the court? If so you should be well placed to get local authority housing as that means they will treat you as homeless. That means you basically go to the top of the list, whether they use a points or a bidding system. Get on the phone/web and fill out an application for their housing, including a copy of the notice.
WRT renting privately, our credit rating is pants and have got the last 3 rented propeties by using my father as a guarantor. You will find some landlords or agencies might when you say that...but the vast majority don't and are happy as long as you can prove that the rent will eaily be covered by the guarantor is you can't pay.
Happened to me in 2007.
Court hearing was in mid February, but I didn't attend, as (a) I had sent in my Mother's will to the Halifax, asking that they note her house had been left to me, and asking them not to repossess, but allow me to sell her property, and (b) it was my birthday that day, and with the firm of solicitors for the Halifax saying the will made no difference, didn't feel I'd get anywhere (as a single man, with no children) in asking for any delay.
If you have children, there's some chance, but the CAB will hopefully suggest a course of action, and there may be a local firm of solicitors they suggest, if you feel you need someone to represent you - though being there yourself may be better, as you can submit your monthly budget and show you were not wasting the money on luxuries...
But, no point making mortgage payment this month, so have a nice takeaway and a bottle of wine, you may feel miserable right now, but there's no point letting it kill all the pleasure of life!
Not sure of the date when decision was sent to me, but it indicated that a bailiff would attend and that I should vacate the property.
In my case, although decision was made on Feb 15, date of repossession was June 6, though things may depend on where you live as to how much time is given. I had somewhere else to move to, but don't drive, and had no funds for storage or transporting items, so had to leave most items there, except a few bits of IT gear to carry on business, and what clothes I could pack.
I tried to see if there were any 'well off' past colleagues who had a lump sum of savings to be able to pay off the debt to the Halifax, and allow me to owe them the amount (under 45K) but that didn't pan out (they have the funds, just tied up in long term investments, so unable to help).
In my case, the property was put on the market 'as seen', and sold at the market price (135K in August 2007... owners nearby had theirs on market at 159K but eventually sold theirs Aug 2008 for 137,500). Whether yours goes on the market, or is sold in an auction may make a lot of difference... if sold at market price, then I hope it would more than cover the remaining debt, and you'd get the balance (less legal fees, eg for solicitors handling repossession... I think I had to pay about 950 quid for that 'privilege')
The local estate agents used by the Halifax allowed me in a couple of times for 30 minutes each visit, to pick up bits and bobs, but on the second visit when I planned to remove my 19" LCD screen for the PC, and a Sony shortwave radio, found that some 'house cleaners' had been in, bagged lots of stuff, in black bin liners (breaking glass, plates and things from kitchen) and had it away with two of my most wanted items (other things in the bathroom, where the radio had been were untouched, and the LCD was one of the few things taken from the smallest bedroom, off the desk... Paperwork downstairs was also put into black plastic bags, but with 30-40 of them, no way to find anything, and worrying with glass clanking when picking up some bags. No doubt I paid the thieves bill too... Halifax lost the will, just to add to pain.
(Longer story, but HMRC had made me bankrupt, so I'll end up with less than 10% of house price, if I am lucky, after PriceWaterhouseCoopers mug me for dozens of hours at up to 300 quid an hour. As a bankrupt, I would not have been allowed to be executor to my Mother's estate, so has caused a whole other set of issues in the family, and house and contents will legally belong to my eldest sister, so I am now 'house sitter' with a hole in the roof which doesn't help.)
Sorry, meant to add, in case anyone wondering at gap between house sale, what I owed Halifax, and amount I may end up with... amounts owed are added up, Govt Insolvency Service gets a fee representing 17.5% of the amount owed...
HMRC came up with figures out of thin air, when I was earning low amount, Halifax seems to have not remembered it was a repayment mortgage, and the bulk of my missed payments should have reduced capital (it was 20K owing in 2000 from one of their statements) but they seem to have had 50+K and I will be checking carefully when they send me statements I've requested. Add interest onto amounts and it sky rockets, and I doubt that even if I get refunds off HMRC after appeal, and Halifax, the Insolvency Service will keep their 17.5% of 'not owed' money. Using internet paid for by my sister, with electricity from neighbour's house via extension lead... bit of a bummer at present...
I'm going off somewhere abroad once this is over, and finding a tax haven so HMRC cannot touch me when higher UK taxes come into force. Oh yes, will have to pay some extortionate fee for a new biometric passport (have not been on holiday for over 10 years!) and go into the bloody 'traveller' database this Big Brother government has built tracking where we go and how we paid... Cash at a travel agents unless I can open a bank account... I guess I will have to go to the edge of the EU, then use other transport to get out of EU, so the Government spooks, and HMRC too, won't know where I end up!
Oh yes, need a damn passport to open a new bank account... So how will I pay for the f'ing passport... cash? Sorry, just a bit 'less than happy' this morning as it was raining in the night...
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