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Response to Repossession Hearing - House Sale/quity

from David Button (davidjohnbutton@supanet.com)
Actually, the buyer's solicitors will NOT become aware of a suspended possession order because the judgment and the posession order are suspended on terms which will include meeting the monthly payment and something off the arrears and under the Norgan ruling, you could be given the rest of the mortgage term to clear the arrears and the PO and the Money Judgment Order for the full amount owing which goes with it is (though not of right) always suspended the first time it goes to court and cannot be enforced until there is further default.

Carry on with the sale if that is the way you want to go, but if you want to hang on to the house - go to court armed with details of your income and outgoings and show the judge that you can meet £x off the arrears and the forthcoming monthly payments and he/she will doubtless suspend the two orders.

(posted 7907 days ago)

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