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If you have missed your rent or mortgage payments, landlords and mortgage
lenders may have the right to evict you. But the procedure for doing this,
called 'possession proceedings' is quite long, and you should have enough time
to come up with a plan to make reasonable repayments to your landlord or your
mortgage lender before the court gets involved.
If you have a second mortgage (or a loan secured on your home) and your
payment plan is refused by the lender, you may be able to get a 'time
order'
through the courts, which will let you keep your home. Under a time order,
the court can reduce or even stop the interest that is adding up on the money
you owe, and reduce the instalments you pay to a level you can afford. But
you have to show the court that you are having genuine difficulty making the
payments. You may also have to show that you would be able to pay the full
instalments again at a later time.
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last updated
16/08/07
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