MORTGAGE EXPRESSgreenspun.com : LUSENET : Repossession : One Thread
Our home was repossessed in July 2000 and sold by ME, in July 2001, for some 60% of its market value. We have been in constant correspondence with ME since then and they refuse to justify (or refute) their very clear mismanagement, or to provide any documentary evidence of the debt. They are asking for £28,146. They have now handed matters over to DLA Solicitors with instructions for them to enforce the Money Judgement Order, which they obtained at the same time as they gained possession of our home. We have now received an ‘ORDER TO ATTENT COURT FOR QUESTIONING’ on the 27th August. This is to see what assets and income we have available (none as we are on Disability Benefit and Income Support). My question is “Has anyone out there been down this route with their lender?” We could do with advice from anyone who has experienced this method of lenders avoiding asking for an Income & Expenditure Form to be completed, by getting the Court to ask the questions. If we don’t answer we are in contempt of court – if we do can this be taken as an admission of liability for the unproven debt? Any advice would be very welcome.
-- Mike (email@example.com), August 13, 2002
I'm no expert on this subject, but if I were you I would read the home-repo "Do's and Don'ts" particularly "What to do if you receive a summons", also what to do if Lenders refuse to supply documents. Read the site from top to bottom. What ME will have to do at court is prove their case against you,the fact that they have not been cooperating with you in regard to justifying the mortgage shortfall (which I presume is what you mean by the £28,146 they are asking for) is to your benefit. There is something which is called "Discovery/Disclosure" which can force the lender to supply the required documentation. I believe you can apply to the court to make them do this and postpone the case whilst this is happening. I think you should give the court a ring(You won't acknowledge the debt by doing that) and ask them about this,unless someone else on this site can advise you better? Perhaps someone else can help re your question on the income and expenditure info the court are asking for? Make sure you read the repo site on this topic,there is quite a lot on it.
I'm still trying to get more info on MJOs and acknowledgements.
I hope this is of some help.
Good Luck, Mark.
-- M Amos (firstname.lastname@example.org), August 17, 2002.