help needed please

hi all

I know there's been a few posts lately on this but im now desperate! Im trying to keep my home but cant pay the mortgage whilst im off work. Im desperate to go back to work and will do as soon as i can just need some breathing space in the meantime. My family are not much help and seem to think letting the bank repossess my house so i can move somewhere else into a council house is what i need. I need some proper advice please anyone who has any advice on how i can avoid the pending repossession of my home i dont care if it costs me more in the longterm but i love my house my area and my life the way it is. The stress is really not doing me any good either so please post if you can offer me helpful advice.

Thanks in advance

A stressed out very emotional Kitkat xx

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Some help?

Hi

I am really sorry to hear that you are struggling just now, the last thing you need is financial stress as well.

I would suggest that you speak to your local Citizens Advice who are probably very familiar with this issue, especially just now.

Other ways to maximise your income are to rent out a spare room, or move in with your relatives and rent out your home for a while, this does bring its own issues but may relieve some of the immediate financial pressures.

It is difficult sometimes when under such stress to look at your own situation clearly and thats why I would suggest an independent and well respected agency such as Citizens Advice.

Your home is important and it is difficult to get back into the housing market when you leave it so look at ways of using your home to maximise your income.

I am not very good with money myself but i really hope you get some help to sort this out.

Good luck

Pinky

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Hi Kitkat

Sorry you are so stressed and things aren't great, I really hope you can get something sorted and start to pick up again- and that you are hospital free for a while. As well as CAB I'm not sure if you are able to see an Independent Financial Advisor (their services/advice can be free) and they are not affiliated to anybody- not sure if they would be the right people but it's maybe worth a try, the other thing is if you are able to maybe get some free legal advice??If you can keep your house it would be so worth it in the long run, if you can hopefully get over this lousy time. The govt. have mentioned about these 2 year mortgage breaks due to the recession- I know nothing about them but hopefully CAB or one of the others may be able to advise you. Good luck and I will keep my fingers crossed for you

Take care Fi

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This organisation should be able to offer you some advice and/or point you in the right direction: communitylegaladvice.org.uk/

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Back in 1991 when intrest rates were spiralling and because I was pregnant we ended up with 2 children 2 adults (one of whom was eating for 2) living off one wage (this was pre minimum wage) we simply could not make ends meet and given it was between food or mortgage we went for food. Building societies were a lot less sympathetic then and we ended up with a respossion order. You need a court order to reposses and it is rare for the home owner to turn up. I got free legal advice and I went to court to plead my case as I had been advised, I explained we were trying to sell the house and the magestrate ruled that we should be given another 3 months to try and sell the house or resolve the problem with the lender, in the end we extended the mortgage so the payments were smaller and therefore affordable. So get legal advice, talk to your lender see if you can come up with a payment plan to suit you. There is always a way around the problem you just have to be pro-active and remember they need a court order to reposses.

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sorry to hear your having financial problems, especially at this time, but I would agree with the others, plenty of free advice available, and speak to your lender, it would be really stupid to repo a house in this economic climate, it's better for them to have you pay something than them try and sell a house. (I always like the quote 'if you owe a bank £100 it's your problem, if you owe the £100,000, it's there problem).

Also the government deferment scheme mentioned below hasn't yet come into force, so try and hang on a little longer.

Chris

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thank you everyone looks like i have a busy week ahead of me lol! Will let you all know how i get on as soon as i can but please if there is anyone else who can add to the helpful advice below in the words of tesco every little helps! Many thanks again you have all helped me feel a little less desperate was getting very stressed and down about the whole saga so im very grateful to you all you have been a great source of help and support.

Hope everyone is well, thanks from a very grateful and slightly less stressed out kat! Xxxx

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help needed please

hi katina

hang in there life is tough and you will punch your way through this crisis. I know its not easy especially living with asthma and life challenges. Citizens advice burea should be able to help you i do voluntary work and they have a free legal advice evening. Its probably under a different name in England I live in Ireland.

When you have your house you have your independance, you will be well advised how to proceed.

I know its not easy living with asthma I lost my job I worked as a midwife and was on a good salary, but somehow i managed to survive and rear three children away from my own family. Happy new year

Christina

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First of all to clear up a little confusion, KITKAT and myself KATINA are not the same person.

Kitkat, sorry you are so stressed, I understand both your views and your family's views on your fiancial state. As I have learnt from recent experience sometimes family can be to close to the situation to be able to understand and advise without prejudice. Like others have advised CAB can be helpful, plus some local solitors practices offer a slot once a week to give people free legal advice. Your local CAB office usually has a list of such practices. Finally check with your CAB to see if you are entitled to Legal Aid, if you are then should it be necessary get a solictor to act on your behalf.

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Apology

please accept my sincere apologies to Katina and Kit-kat for confusing names.

Happy New Year to you both and all the best of Health for 2009

Yours sincerely

Christina

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No problem Christina!

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no probs christina from kat thanks for clearing up the confusion katina!

Also thanks to everyone for your advice think its going to be a very busy few weeks of sorting but i'll let you all know how i get on. Take care all and best wishes of healthier and a happy new year to all!

Lv kat Xx