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Subject: Eviction on Tuesday

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Rhinitic Subject
Posts:2

13-01-2008 7:34 AM	Alert
I'm a small time property investor. I've received a call from a Lady who is being evicted on Tuesday, due to mortgage arrears. Another investor had agreed to buy the house and rent it back to her, went to court with her, got the evition extended on the understanding that he was buying the property, and now has informed her he can't proceed. She has a mortgage with Kensington Mortgages, the redemption figure is 169K; she is paying £1500 a month; Kensington will stop the eviction only if she pays £29,000 arrears. Value of the prop: £220K. Rental around £750 pcm. We think that the judge will not extend the eviction period again, as he has done this once. The lady is very distressed. Can something be done in such a short time? Thank you.

debsbaker
Posts:111

14-01-2008 8:25 AM	Alert
Hi FD, You can continue to submit a further N244 as long as the judge has not declared that no more can be submitted. Submit the N244 with an offer of the mortgage you have obtained to purchase. The judge is more than likely to extend the notice, they do not want to see anyone on the street especially when the eviction can be stopped. Is it just the first charge that is present on the property? Let us know how you get on. Good luck!

Kind Regards Debbie Baker Tip Consultancy - Financial Recovery Specialists 07790 533884

Johnny Debt
Posts:322

14-01-2008 8:32 AM	Alert
You might also want to take a look at this link N244 used in anger If you want to chat give us a call.

Johnny Debt 07957 13 13 13 JohnnyDebt.co.uk Follow on Twitter

lsaid
Posts:3

15-01-2008 11:49 AM	Alert
This post has been moved to Eviction Set at 28 Days

debsbaker
Posts:111

15-01-2008 12:36 PM	Alert
This post has been moved to Eviction Set at 28 Days

Kind Regards Debbie Baker Tip Consultancy - Financial Recovery Specialists 07790 533884

lsaid
Posts:3

15-01-2008 12:47 PM	Alert
This post has been moved to Eviction Set at 28 Days

debsbaker
Posts:111

15-01-2008 1:02 PM	Alert
This post has been moved to Eviction Set at 28 Days

Kind Regards Debbie Baker Tip Consultancy - Financial Recovery Specialists 07790 533884

lsaid
Posts:3

15-01-2008 1:06 PM	Alert
This post has been moved to Eviction Set at 28 Days

Rhinitic Subject
Posts:2

15-01-2008 4:04 PM	Alert
Hi All, There seems to be some confusion here. Lela's case and my case are unrelated (perhaps they should be posted in different threads). Debbie and Johny, many thanks for your replies. I'm still working on this case and will post here when we have a conclussion. Lela, good luck with your predicament; this forum is the right place to obtain expert advice and help. I do buy properties on a regular basis from people who are in similar situations as yours. I can complete within 28 days and the sellers can rent their property back if they so wish. In exchange for this service we buy at a discount. This usually works well as the sellers will avoid repossession and stay in their property. In many cases they can keep more money than after a repossession (which can involve high costs) and they will avoid the "black mark" on their credit history. If you would like to have a chat you can phone me on 07840342506. All the best, F D

Johnny Debt
Posts:322

15-01-2008 11:58 PM	Alert
I do know of one case where the propery investor spoke direct with the lenders the day after eviction. The lenders agreed to do a deal, but only if the vendor moved back in. I think the reason for this was that the lender after eviction has to place the property on the open market for 28 days, in order to obtain the best possible price. By getting the vendor to move back in means that the responsibility rests with the vendor if they accept a lower price. FD even if the eviction has take place, keep on at the lender with your offer. You may still strike a deal and maybe move the vendor back in. Get a Letter of Authorisation from your client.

Johnny Debt 07957 13 13 13 JohnnyDebt.co.uk Follow on Twitter

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