Mortgage question

[lookingforward]

Re: Mortgage question

Hi,
Thanks for replying

We actually met a lovely lady from CAB in the court house on the day of the hearing by chance. She went through all our figures and actually got us to reduce the amount we were going to pay extra each month to make sure it was affordable. She then called in the other sides solicitor and got them to agree to the amount so by the time we went into court we knew we were going to be OK.
The wording on the subsequent letter from the court is headed Order for possession (Mortgaged premises) (suspended)
It goes on to say that the order is not to be enforced so long as the defendant pays the claimant the unpaid instalments under the mortgage of £xxxx by the payments set out below in addition to the current instalments under the mortgage.

It the gives the extra amount we'd agreed on.

Permission to the claiment to apply for a review of payment of arrears not before 1.4.09 (which was 6 months)

To the defendant

The court has ordered that unless you pay the arrears and costs set out in addition to your current rent you must leave the premises.
The arrears were capitalised in apr 09 and the letter states that the arrears balance has been reduced to zero

[PlanB]

Re: Mortgage question

When you say you agreed an affordable payment plan, do you mean the possession proceedings were "adjourned generally with liberty to restore" (that's the typical wording on the court Order) because you did a private deal with your lender before any hearing took place? If so this would mean the court didn't make a Suspended Possession Order which stated the amount you should pay towards the arrears on top of your contractual monthly mortgage payment.

Or do you mean you agreed a payment plan and also agreed to a Suspended Possession Order by consent which the court rubber stamped?

Clarify that for me first.

But either way once the arrears have been capitalized (added to the loan) then you don't have arrears so no one can issue possession proceedings against you or enforce any SPO already achieved. But they can make a fresh application for new arrears.

[lookingforward]

Quick Q,

Some time back we were taken to court for repossesion which we managed to stave off and agree an affordable payment plan with the mortgage Company. After keeping up with this for a while the they wrote to us stating they had consolidated the arrears onto the loan so we no longer had any arrears.

Fast forward to taday and we again find ourselves in arrears and the Mrs had to phone to make a suitable repayment plan with them this evening. At the end of the conversation the chap had to re-cap all that had been said and part of the spiel was that she was reminded that a repossesion order (or words to that effect) was in place that could be activated at any time.

Is that right ? we thought once the arrears for that particular instance we consolidated the RO went with it.