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got there
Junior Member
United Kingdom
461 Posts |
 Posted - 15 September 2008 : 20:55:33
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The house has been on the market for nearly 2 years I am declaring BR and have separated from hubby the house is still on the market, the mortgage will not be paid from 1 october. Do I take it off the market or leave it and let mort company know what agent has details?
Thanks in advance. |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 15 September 2008 : 21:06:21
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Hi GT
Not sure on that one, but John is about and maybe ha can answer that one for you. :-)
Take care
Jo x
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
For links to help with Bankruptcy, useful web pages and also a run down of my new debt free life, both before and after Bankruptcy, then please visit my blog:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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John
New Member
United Kingdom
73 Posts |
Posted - 15 September 2008 : 22:30:19
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HI
you could leave it on or not really the choice is yours. Once you declare BR than your beneficial interest will vest with the Official Receiver and he will decide what's to be done from there.
The mortgage company would not normally commence repossession until you are at least 3 months in arrears.
So you have a few months not having to pay before alternative accommodation becomes urgent. If you plan to move into rented accommodation try to do so sooner rather than later as it's easier to acquire a rental when not BR as credit checks are often carried out.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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got there
Junior Member
United Kingdom
461 Posts |
Posted - 16 September 2008 : 07:28:28
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| Thanks John, but will need the 3 months mortgage in order to pay deposit and first months rent. My mom has said she will stand as guarantor, I hope this goes to plan. There has already been a part payments missed in Sept would this go towards the 3 payments or does it have to be 3 full payments missed before court action instigated? thanks in advance. |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 16 September 2008 : 09:38:43
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Hi GT
Im not sure on how that would work, maybe one of the other experts will be on here later and you can get an answer then.
Good luck with it all. :-)
Jo x
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
For links to help with Bankruptcy, useful web pages and also a run down of my new debt free life, both before and after Bankruptcy, then please visit my blog:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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got there
Junior Member
United Kingdom
461 Posts |
Posted - 16 September 2008 : 15:49:29
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| Thanks Jo x |
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John
New Member
United Kingdom
73 Posts |
Posted - 17 September 2008 : 00:20:28
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Hi
normally the court require 3 months arrears before they agree to act. So in theory 2.5 months arrears is not enough for the court to grant repossession proceedings.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 17 September 2008 : 07:22:58
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Thanks for clearing that up for us John.
Have a great day!
Jo x
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
For links to help with Bankruptcy, useful web pages and also a run down of my new debt free life, both before and after Bankruptcy, then please visit my blog:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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Topic |
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HOUSE: what do I need to do?
