'aggressive' mortgage lenders rush to repossess th

[Skipper]

http://www.thisismoney.co.uk/news/artic ... _id=2&ct=5

"Always think outside the box"

The CML dismissed the Citizens Advice analysis as 'sensationalist'. It denied subprime lenders were rushing to repossess.

CML chief Michael Coogan said: 'This report is in no way typical of the vast majority of cases where lenders work constructively with borrowers to get them over periods of financial difficulty and keep them in their homes.'
added by admin

[Welsh Boy]

Skipper

I thought the CML reply was correct, there is a tendency to sensationalise to attract readers and attention.

What we shouldn`t forget is all lenders whether they be high street or otherwise have a strict set of professional rules and code of conduct that they should adhere to.

No lender wants to intentionally take back a property and almost all will work with us to find a solution after all said and done it`s in their best interests to help us.Tony



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[jim_h]

you have got to be joking i missed two payments only with ge money and they took me to court

[mikebdomain]

The action with ge money taking you to court is to make you 'stand up and take notice' if you went to court and offered a small payment on top of your existing mortgage payments to pay off the arrears you would have got a suspended possession order.

The action is more to remind you of your commitment to pay the mortgage...

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[jane.l]

I am finding my situation VERY odd! I have not paid the mortgage or secured loan since February, we moved out in April to a rented house and had to save 2 lots of bankruptcy fees and so did not go bankrupt until end August. We could not keep the house on as the secured payments were just too much and they would not let us sell it. The house has still NOT been repossessed, I have been told it may be next year before it is!!!! That will be a whole year with no payments whatsoever! I have informed NRock time and time again that we are bankrupt and cannot keep the house but they seem in no rush!