Posts Tagged ‘mortgage arrears’

Despite difficult lender, a 10% settlement can be achieved

A settlement of 10% can still be achieved, even when faced with a difficult lender A couple with a large shortfall of over £120,000 with a notoriously difficult lender approached us for help. While we had overseen the sale of the property and had been attempting to negotiate with the lender for quite some time,…

Read More

The Recession, ten years on: how are we affected?

The recession, ten years on: how are we affected? The recession began as just another financial crisis on Wall Street. There was an issue with subprime mortgages in America—mortgages given to people who looked to be high-risk lenders, with difficulty maintaining a repayment schedule—which became a bigger and bigger issue as more and more people…

Read More

Britain could be facing another debt crisis

Britain could be facing another debt crisis

Britain could be facing another debt crisis, warn Bell & Company Britain is facing rising debt problems not seen since the beginning of the financial crash of almost a full decade ago, and we could be heading for another crisis, warn the debt experts at Bell & Company. “Nobody saw the crash of 2008 coming,”…

Read More

‘Low’ Mortgage Shortfall Settlement

low mortgage shortfall settlement

Our Client had an outstanding mortgage shortfall of £13,000 and needed to break free from their debt to move on with their life. Many lenders consider lower outstanding debts such as this to be deemed as ‘affordable’ over someone’s lifetime. In such a case, the lower level of crystallised debt could provoke the Lender consider…

Read More

NEGATIVE EQUITY STILL PREVALENT IN IRELAND

Mortgage

  A recent Standard & Poors report cites that 4 out of 10 mortgage borrowers in Ireland are in Negative Equity. Furthermore, 6 out of 10 borrowers in Mortgage Arrears are also in Negative Equity. The average negative equity balance is currently €54, 000. Given 40 per cent of borrowers find themselves in negative the…

Read More

Mortgage Shortfall

property debt issues

Property Payments This case proved difficult. It was a father and son relationship, the Father acted as a guarantor for the son on the mortgage. The son could not maintain the property payments and the property was ultimately repossessed and sold in possession by the Bank.   The father and son where pursued for the…

Read More

Marriage breakdown – Divorce Situation

Marriage breakdown

Mortgage Settlement A couple from Co Down with a marriage breakdown sought help from our specialists after their divorce as they agreed it was beneficial to sell the property they owned together which forced them into Negative Equity. The mortgage on the property was for £204,000. We achieved agreement from the lender to a consensual…

Read More

Mortgage Shortfall Settlement

Mortgage

Mortgage repayments A Single lady bought a house in North Belfast with a £230,000 mortgage in 2006.  Her mortgage repayments were £770 per month Interest only. Unfortunately she lost her job and could not afford to pay her mortgage. Bell & Company helped her through the process. The Client opted to sell the property on…

Read More