Have fallen behind with mortgage payments by a month because of illness and being hospitalised.
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Am paying as much as I can weekly but cannot seem to catch up fully before next monthly payment is due.I am a pensioner on low income,I have contacted my mortgage company and have sent in income and expenditure form,they keep sending me arrears letters,can they take any action when I am still paying and my arrears never go over a month. I am widowed and live alone with my Down's Syndrome son.
You've probably got up to 6 months of non-payment before they will take legal action. They don't want to repossess as they are banks not house owners.
If it does get really bad and they are going to repossess and any equity with it, there are companies out there that can at least save you your equity. Some will look to buy at a huge discount. Others, like mine, will buy at market rate. www.webuyhousesnetwork.co.uk
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