A Message For All Building Socs And Their Solicitors

greenspun.com : LUSENET : Repossession : One Thread

After reading many truthful tales of woe on this website (mine included). Most mortgage shortfalls seem to acumalate from the property being left unatended for periods of more than 2 years after being repossesed.during this period property is vandalised-repaired-vandalised-repaired again! then locks changed 16 times. All this charged to us the victims. When the building soc applies for a repossesion order and successfully reposesses why don't they let you live in the property and pay rent that would cover the mortgage arrears until they find abuyer for the property at a price acceptable to B.S and ourselves afterall a house lived in will always fetch a better price than a cold damp vandalised house thats been stood empty for 2 years! any comments welcome. Regards Daren.

-- Daren Otsay (darenotsay@blueyonder.co.uk), November 06, 2001

Answers

I think it's a sterling idea! I recall one BS offered such a rescue scheme in the very early nineties - most of the repossessee's got their lives in order and bought back their houses eventually. Anyone remember that documentary? It was set up North.

-- Too scared to say (iwasduped@yahoo.com), November 06, 2001.

I think you will find that in a court of law once any building society bank or whatever has confirmed in writing or by court action taking posession of any dwelling they then have a legal obligation to take reasonable care of said property and any damage would be their problem even more so if they take an unreasonable amount of time to dispose of same.

-- Steve. (powerhousesteve@aol.com), November 24, 2001.

I saw the same article, 1992, if I recall correctly, when my wife and I were in the same boat. The Nationwide BS, when called said that we wern't eligable for the scheme as it was only for the people in real trouble inthe south, not north of Watford gap. (We lived in Derbyshire at the time). My 20,00- arrears seemed real enough to my wife and I at the time. Since then, gone bankrupt, now chasing my wife.

-- Colin Potts, Derbyshire (Colin.Potts@6pilsley.fsnet.co.uk), February 04, 2002.

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