Suspended Repossession Ordersgreenspun.com : LUSENET : Repossession : One Thread
My lender has a suspended repossession order on my home. I was recently made unemployed, and have since defaulted on this order.
Now I am back in work, will the court be willing to re-install this order or a new one, or will they automatically grant my lender the repossession order ??
Someone help, please !!
-- PJB (firstname.lastname@example.org), November 01, 1998
Make sure you take documentary proof of your unemployment and new employment to the Court. Make certain you attend the hearing and make your case clearly - offering evidence as necessary - the Judge may well grant a further suspended order. As a rule the Judges do not want to grant possession orders if there are good grounds to allow suspensions.
If circumstances are such that the Judge will not grant a suspended repossession order then contact me very urgently. Provided you have the ability to service an ongoing loan now (and there is at least 10-15% equity in your property) I may be able to issue a letter to the Court confirming we have agreed in principle to remortgage you to a different and willing lender. This usually allows the Court to tell the lender to hold off while the remortgage is arranged.
-- Graham Warburton (email@example.com), November 01, 1998.