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New mortgage because of shortfall
13 years 3 months ago #64895 by millymoo
Replied by millymoo on topic Re:New mortgage because of shortfall
Hi John
My parents had a very similar problem when dad retired at 65 involving their mortgage. They had taken out an endownment cover which failed so they had to take out a small mortgage to cover the shortfall. Up until 2 months ago mum still had to work to help pay this amount until she discovered that she needed major heart surgery so at the age of 69 she had no option but to retire. (dad has cancer which is why mum worked to pay the mortgage) But they are now getting their pensions plus housing benefit which pays the interest on their mortgage and council tax benefit which they didn't know they were entitled to claim.
I appreciate everyone is different so it would be well worth looking on the Gov site or contacting CAB as imo their should be help available to you. Afterall the government set an amount that is required to live on.
I am too disabled and have been unable to work for nearly 3 years now and have just had my home repossessed as i couldn't afford the difference on the mortgage (i had a thread running titled "Dreaded mortgage reduction letter") It is a large thread but i shared my journey through a very difficult and unbearable time in the hope it could help someone else. In the end i involved my MP and boy i wish i had done it sooner as i went through hell for nearly 10 months. Without the support and help from this site i don't know what may have happened.
Mm
xx big hugs sounds like you need it
My parents had a very similar problem when dad retired at 65 involving their mortgage. They had taken out an endownment cover which failed so they had to take out a small mortgage to cover the shortfall. Up until 2 months ago mum still had to work to help pay this amount until she discovered that she needed major heart surgery so at the age of 69 she had no option but to retire. (dad has cancer which is why mum worked to pay the mortgage) But they are now getting their pensions plus housing benefit which pays the interest on their mortgage and council tax benefit which they didn't know they were entitled to claim.
I appreciate everyone is different so it would be well worth looking on the Gov site or contacting CAB as imo their should be help available to you. Afterall the government set an amount that is required to live on.
I am too disabled and have been unable to work for nearly 3 years now and have just had my home repossessed as i couldn't afford the difference on the mortgage (i had a thread running titled "Dreaded mortgage reduction letter") It is a large thread but i shared my journey through a very difficult and unbearable time in the hope it could help someone else. In the end i involved my MP and boy i wish i had done it sooner as i went through hell for nearly 10 months. Without the support and help from this site i don't know what may have happened.
Mm
xx big hugs sounds like you need it Please Log in or Create an account to join the conversation.
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