i think we r losing the house.....

[milesysgirl]

just thought id post to see if ne 1 else had been in this situation and had a happy outcome we were sent aletter on friday from our mortgage lenders saying they were gonna reposses our house as we have fallen behind on the payments basiclly unless we pay the arrers in full which are 4000 they will reposses . we really dont no wat to do wecant get aloan as we have poor credit the only thing to do is to borrow the money of family but then i dont think any of them have that sort of money just sitting there .me and dp are going to the citizens advice thingy tomorroe to see if theres ne thing that can be done .its such a horrible feeling we love our house and really dont want to have to go if anybody nos ne thing about this or has been through this please let me no ,sorry to go on.

the worst thing you can do is ignore the lender and bury your head in teh sand. Speak to them and explain your situation and why you have got into the arrears situation. Are you able to change the term of your mortgage for instance to say 25 years which will bring hte payments down?

is it to late for that when you have already got the letter though ...?? thanks for the advice though will ring tomorrow .

milesysgirl, really sorry to hear you are in this situation

I was ina similar position many years ago. You must phone your building society. They will help you come to some sort of arrangement with your repayments. They rarely ignore serious offers to pay back arrears. Whatever you do, don't ignore their letters as things will only get worse. Citizens advice bureau might be able to offer you advice or even do something pro-active on your behalf.

Best of luck.

just seems like our mortgage is so high copared to other people as well ...might not be but just feels that way!

hi queenseagle sorry do you mean the mortgage lender??

its sooo much hassle to repossess a property and there's a lot of costs attached to it. Its not too late so definitely call them tomorrow

thanks jampots really appreciate the advice will post when i ve spoken to them tomorrow .x

Sorry milesysgirl, yes I mean your mortgage lander. When I had a mortgage it was with a building society so just assumed....sorry. Do phone them though...if you are seen to be asking for help, they should help you.

will def ring them tomorrow thanks for your quick replies its much appreciated when something like this happens it makes you feel so crap im glad i posted though im new to mumsnet but will definately be a regular poster from now on hopefully not to much on the [depressed] thread though!!!

bump any one else with any advice ???...

Not really - would advise the same as jampots. Speak to them and try to negotiate other terms of repayment (rather than payment in full of £4000 in one go).

Not meaning to sound judgemental - genuine question; how did you get £4000 in arrears ? What is the amount of your monthly mortgage repayment?

our mortgage is £850 a month just gone through a rough couple of months with dp work or lack of it .

Is he back in regular work now? If so, that's a positive thing that you can highlight with the mortgage lenders. You can explain that you are now back on track....