vacant possession ordergreenspun.com : LUSENET : Repossession : One Thread
attended cour in regard to possession order.This was adjourned for a further date & no order made.Attended the second hearing.The DJ gave vacant possession order due for next month.The DJ would not hear of any financial offers from me in regard to settling most of the debt.The plaintiffs have no agreed to accept the sum of #157.000 in full settlement.I did inform the Dj that we had a re-mortgae in place for #120.000.and was willing to pay the additional outstanding over a period of seventy two month.The DJ just gave vacant possession without considering my wife who has cancer,& my three childern etc. Can you advise as a matter of urgency.It seem that I have to come up with the full balnce in cash.Is this right,or vacate by the 19/10/99. Regards
-- david goode (harry@Templesoutheast.free-online.co.uk), August 28, 1999
Is the possession order in respect of a business loan/business or any other kind of overdraft? If so, the court has very limited powers to help you remain in your home.
If it is a normal mortgage, the court can let you remain in your home if you can show the court that you can pay the normal mortgage payments plus #x per month (and a lump sum if you have it) to clear the arrears within the remaining term of the mortgage.
-- Sue Edwards (email@example.com), September 22, 1999.