Part Buy Part Rent Mortgagegreenspun.com : LUSENET : Repossession : One Thread
I have a 50% share in a house with the other 50% owned by a housing association our mortgage payments are behind by about 4 months and we have not heard a word from the mortgage lender since before xmas can they kick us out at very short notice this is worrying us as we have a 2 yr old daughter.
-- Mark Lonsdale (email@example.com), March 02, 2003
Mark I dont' know what association you are with but I do know that at least one of the associations that I am familiar with will under certain circumstances allow you to stay in the property paying 100% rent if your lender forecloses on you . However it is entirely at their discretion so you should be paying at least your rental payment and informing them of the situation.If you have been made unemployed or sick you should get Housing benifit to cover the rental payment. (Rental payments are made without the 9 month wait for a mortgage payment) As for your lender they will not remain quiet for long. Have you recently been made unemployed? Are you unwell and unable to work? Circumstances beyond your control that have resulted in your current situation? You need to put your position forward. Will this be a permanent situation? If you contact all concerned you may escape some of the horror stories discussed on this site! I wish I had Good luck Dee
-- D (firstname.lastname@example.org), March 08, 2003.