Not sure if this should be in property? Does anyone know the length of time it takes from the month you miss a mortgage payment, till you get kicked out?

[NatalieJane]

Really can't face going through all of the minor factors again, but suffice to say, possibly next month, if not then in May, we won't be able to meet our mortgage payment anymore, if we show that we can no longer afford the full ammount, and that we will pay as much as we possibly can each month, we know it's heading eventually for a repossession, but roughly how long can you put it off for? Are we talking 3 months? 6 months? More?

BTW no chance of payment hols or interest only.

TIA

I was almost positive you could with a car... hmmm (good job I was only in mortgages then ) lol. Must just be if your in a crash that you keep paying. lol

Surely you can just hand the car back , might be worth it even with a penalty charge ? Is it on HP or a lease.

if ypu look at the agreement,it says what the legal position is. If you have paid a certain amount ( i think it is either half or a third) then they have to go to court to get the car back. If not i guess they will give you notice after 2 missed payments and can then instruct agents to collect the car and sell it. With the car, i would be tempted to call them and ask them what the options are "if i no longer need it and don't want to trade it in.!

Hi nataliejane - don't know if you're aware but due to economic situation government recently introduced something that means mortgage companies have to try and assist defaulting borrowers not just go for repossession.

IMO it takes a fair bit of time to be repossessed especially if you have a good lawyer who can stall for time, ask for extnestions and pay off parts ehere and there.

Putting it on the market now sounds sensible to me