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  • #16
    Re: Daughter

    That sounds like not a bad idea and not bad thinking to have.... at least she can then save a bit like you say!

    Good luck
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    • #17
      Re: Daughter

      Originally posted by Never-In-Doubt View Post
      That sounds like not a bad idea and not bad thinking to have.... at least she can then save a bit like you say!

      Good luck
      Thanks Niddy Mate, Just wondered, If the valuation comes in at £160,000, the amount owed is £147,500+, plus the £9000 from GE, if you look at fees etc there is going to be nothing left. Would there be any repercussions if she just walked away and came to live with us for a while and leave them to fight over it. They have all being very unhelpfull, in fact they have at times being downright horrible to her, phoning up asking for her husband even though they know he died, sending letters to him with (deseased) in brackets on the envelope, everytime they call her they keep asking why she is in this situation and she has to explain all over again, all very difficultt for both my daughter and the children. I really would like her to start again and leave them to sort it between them, what you think? any dangers in this approach, cheers Pez
      Last edited by pezman65; 8 March 2013, 11:10.

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      • #18
        Re: Daughter

        If you got the house on the market and then get it sold, your mortgage would get first dabs as first and primary secured lender and anything left after legal fees etc would go to the second charge so once you get it sold, pay it all out and whatever is left short to the second charge - tough!

        As you say, on the other hand she could just post the keys back and walk away - it's really up to her. There is no guide book sadly, it's a case of each to their own.

        Best of luck, whatever she decides...
        I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

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        • #19
          Re: Daughter

          Is the mortgage only £47,500? If she is paying £800 per month that is ridiculous for a mortgage at that level.
          If happy little bluebirds fly, beyond the rainbow, why, oh why can't I?

          sigpic

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          • #20
            Re: Daughter

            £147,000
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            • #21
              Re: Daughter

              I think it was £147k Diddles

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              • #22
                Re: Daughter

                See below......
                Originally posted by pezman65 View Post
                He left her with a mortgage of £147,500 and a secured loan for £9000. The house is being valued tomorrow (approx £160,000 I think).
                I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

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                • #23
                  Re: Daughter

                  Originally posted by diddlydee View Post
                  Is the mortgage only £47,500? If she is paying £800 per month that is ridiculous for a mortgage at that level.
                  Should only be about£300- per month on a figure like that with repayment interest normal


                  sorry posted before having seen the true figure.
                  Last edited by The Tech Clerk; 19 February 2013, 19:44.
                  I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

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                  • #24
                    Re: Daughter

                    Originally posted by diddlydee View Post
                    Is the mortgage only £47,500? If she is paying £800 per month that is ridiculous for a mortgage at that level.
                    Sorry Diddlydee is should have read £147.500 not £47.500, Pez
                    Last edited by pezman65; 19 February 2013, 20:14.

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                    • #25
                      Re: Daughter

                      Cool, okay pez. Just wanted to check as it could have affected things x
                      If happy little bluebirds fly, beyond the rainbow, why, oh why can't I?

                      sigpic

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                      • #26
                        Re: Daughter

                        When my friend was having her house repossessed I went with her to a CAB course - they said there was a scheme where if you had dependants living in a mortgaged house the government would "buy it" and then rent it back. Cant remember all the details but it sounded a great idea if you had children and wanted them to stay in a secure environment. Maybe worth a ring to CAB just to see?

                        Jane x

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                        • #27
                          Re: Daughter

                          ^^^ Mortgage Rescue Scheme

                          ---> Citizens Advice - Mortgage rescue schemes
                          I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

                          If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

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                          • #28
                            Re: Daughter

                            That's it - didn't go down that route with my friend as she was just single and wanted to hand the keys back so I'm not sure how helpful it really is but might be worth a look see?

                            Jane x

                            PS she handed the keys back and has never been happier!

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                            • #29
                              Re: Daughter

                              Originally posted by Never-In-Doubt View Post
                              ^^^ Mortgage Rescue Scheme

                              ---> Citizens Advice - Mortgage rescue schemes
                              Thanks Mate, will take a look, cheers

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                              • #30
                                Re: Daughter

                                Originally posted by tastyjane View Post
                                When my friend was having her house repossessed I went with her to a CAB course - they said there was a scheme where if you had dependants living in a mortgaged house the government would "buy it" and then rent it back. Cant remember all the details but it sounded a great idea if you had children and wanted them to stay in a secure environment. Maybe worth a ring to CAB just to see?

                                Jane x
                                Thanks T Jane, that sounds like a good way to go, at least she will know what her options are, many thanks, Pez

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