Once you’ve cleared all the arrears?
We went to Court last summer as we’d fallen into arrears with our mortgage. The Judge granted a suspended repossession order.
We’ve since cleared all the arrears off but the mortgage Co says the Order still stands even though the account is now bang up to date. Is this right? Sounds wrong to me.
Quick Property Sale
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i think they are allowed a grace period, just in case you lapse again
A suspended repossession order is basically a final warning (a yellow card, if you like), and means that if you fall behind with your mortgage payments again, your home will almost certainly be repossessed.
If the judge made a suspended possession order, you can stay in your home as long as you keep to certain conditions. The conditions should be explained in the order, but if it isn’t clear, get advice. In many cases, it will say that you have to pay a certain amount off your arrears each month and keep up with your ongoing mortgage payments. When you have paid off the arrears, you simply need to continue to pay your normal monthly payments when they are due.
If you don’t keep to the conditions of a suspended possession order, you can be evicted very easily. For example, if you miss even one payment, you r lender can apply for a bailiff’s appointment straight away. There isn’t normally another hearing and you may only get a few days’ warning before the bailiffs arrive. If you receive a letter from the bailiff, get advice immediately. There may still be time to stop the eviction.
If you think you are likely to have problems sticking to the conditions of a suspended possession order, you should contact your lender and/or get advice immediately. Don’t put off dealing with the situation, as your lender (or other creditor) may be able to evict you very quickly if you don’t come to an agreement.
Even if the situation seems hopeless, an adviser may be able to help you find a solution. For example, if you have lost your job it may be possible to get the conditions of the order changed to make the repayments more manageable. If you want to change the conditions of an order, you will need to apply to the court and may have to pay a fee. However, if you are claiming benefits or have a low income you may be able to get help with these costs.
With any suspension of an order, you have already been found liable for the cause of action brought by the plaintiff. It would be wrong for the court to NOT try the facts, but the court has the power to give you an opportunity to remedy the situation. You could not remedy very easily if there was a repossession, now, could you?
The order will stand, however, as a means of the mortgage company to get a full order for repossession without having to have the court try the facts all over again. The mortgage company will have to show good cause (i.e. after or during trial, you agreed to work things out, but did not) to get the full repossession.
The current order may have an expiration date. If it does not, make your payments for a year or so. Get things stable. PAY ON TIME. Then if this still bothers you, go back to court in about a year and file a motion to dismiss the action. Remember, the mortgage company has to show good cause in court to get a full repossession, so if you’re doing what you’re supposed to do, there is “less” ( I won’t say “nothing”) to worry about.
good luck.