Mortgage rescue sheme advice requiredgreenspun.com : LUSENET : Repossession : One Thread
Anybody got any advice on potential mortgage rescue schemes for someone who has just become unemployed and falling into arrears with the mortgage?
In particular I would appreciate any advice on converting from a mortgage to a tenancy but I'm not yet at the stage where I'm willing to let the mortgage lenders get their meat hooks on it.
I understand that transferring title of the property to a Trust and then renting from the Trust would be acceptable to the Housing Benefits Agency and they would not view any such agreement as contrived to take advantage of Housing Benefit. But this would only be acceptable if you are under the threat of repossession and can prove that there is no other way that you can remain living in the property.
Anybody heard of, or have any experience of this?
-- David Thompson (email@example.com), August 03, 2000