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| huntersrishon |
Posted - 28 September 2008 : 17:26:27
Hi All
Sorry I am here again. My OH is in a panic - we are about to miss 1st months mortgage payment. He wants to start taking table etc apart ready for moving. We have nowhere really to go untill December. He is convinced someone will knock the door and say we have to leave straight away. I have tried to tell him this will not happen but he is having none of it. Please does anyone know if we go BR in 3 weeks, have missed the 1st mortgage payment on 1st October am I right in thinking the earliest we will have to get out is December.
Sorry to keep on.
Dee |
| 4 L A T E S T R E P L I E S (Newest First) |
| huntersrishon |
Posted - 29 September 2008 : 19:03:04
Thanks Tom
OH has read what you and John had to say and I think he is down from the ceiling now!!!!!
Dee |
| tom |
Posted - 28 September 2008 : 22:01:21
Hi All, just want to let you guys know what happen to me, I missed my 1st payment in December 2006 and nothing happened for 3 months at least. Then I was made bankrupt by the inland revenue in April 2007 and that was when I left everything to the trustee as I still had lots of equity in the house. As I couldn't pay for the mortgage I allowed the trustee to try and sell the house. I had a reprossesion order around September but as the trustee was trying to sell the house the order was not executed. Although we had a buyer for the house, the building society didn't allow the sale to go through because the trustee asked too much for their fees. We had an eviction order for December 2007 but I went to court to said that the council didnt have a house for us, we have a daughter of 11, so the Judge gave us more time to find one. We were eventually evicted on the 15th of Feb 2008, but we had already moved by then, so it was not as bad as we thought. I am not saying all cases are like this, but I just want to let you guys know that if you plan it right it can be an opening of a new dawn, |
| huntersrishon |
Posted - 28 September 2008 : 17:45:53
Thanks John
I have read this all out to my OH he gave me a look but I think it has made him a bit calmer!!!!!!
Dee  |
| John |
Posted - 28 September 2008 : 17:41:59
Hi Dee
basically yes.
The court would not entertain an application by the lender for repossession of your property until a minimum 3 months mortgage payments have been missed.
Also, your debt to the mortgage lender is secured against your property and he therefore knows full well he cannot try and claim any of your household goods in the meantime.
Likewise with unsecured creditors they would have to follow due process.If you are about to stop paying and plan to go BR between now and December the unsecured creditors cannot chase their money once you are BR.
If you miss Oct, Nov, & Dec mortgage the lender can apply for a hearing. The judge finds in the lender's favour and you are given 28 days to repay the arrears. You don't and the lender applies for eviction.
If Oct 1st is your first missed payment the likelihood is you will not be evicted until Feb / Mar of 2009 at the earliest.
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