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anyone know where i can get some decent financial advice re: mortgage debt

Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
i live with my mum and i pay her rent where possible, however she's been out of work for over 18months and we're in £2000 capital arrears (interest is paid by benefit) and the mortgage company is threatening us

the annoying thing is that we're in massive equity now, like 60k left in capital and house is still worth 200k+

tbh i dont mind losing inheritance, my main concern is my mum having a roof over her head, so there must be some kind of compromise possible somewhere since we're in an unsound but still liquid

hell im tempted to apply to take over the mortgage myself on my shitty wage cause it's only 3 times my salary left to pay, i just want my mum to have a stable roof over her head :s

Comments

  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Try:

    http://www.nationaldebtline.co.uk/

    Or your local Citizens Advice
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Hi wheresmyplacebo,

    You can also try the Consumer Credit Counselling service (CCCS).

    They offer free and confidential online debt advice with a useful debt remedy tool as well.

    Or, you can call them free on 0800 138 1111.

    It sounds like a difficult time for you right now and worrying about your mum must be stressful. Is there anyone you can talk to, another family member perhaps?

    All the best, let us know how things progress :)
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    i'll definetly give them a call or something, in the meantime i've taken over paying day to day bills so less money worries otherwise cause we're in a bad situation, but it isn't hopelessly bad, our combined income is enough for all but capital payments so we'll get through, but i'll keep up to date when i hear stuff
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    renegiating is going nowhere, and if my mum doesn't find a job soon, they're going to start court proceeding, other lenders are being wary about remortgaging into both our names, solely cause she has like £600 arrears after 18months unemployment....

    gah so frutrating, tempted to just sell up and buy a similar sized house in dagenham which is only 15mons away lol
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    looks like i'm gonna bite the bullet and take on a mortgage to buy my mother out.... i've been accepted in a few hours work down the building society so not too bad, now just to finish off legal crap
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    I'd recommend Payplan as a free alternative to CCCS. Their web address is http://www.payplan.com
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