House threat: not all is lost

OLDHAM Citizens Advice Bureau has published a four point advice plan to help Oldhamers threatened with the repossession of their homes.

Oldham has the second highest rate of repossessions in the region with 1,350 cases going through Oldham County Court. last year.

And the number of people set to lose their homes could soar as the credit crunch continues to bite.

Now, housing specialist at the Citizens Advice Bureau, Ryan Wharmby, has released a comprehensive guide to help homeowners ride the economic storm.

::Speak to your mortgage lender, however difficult you may find it. It is better that they are aware of any difficulties you have paying your mortgage.

::Start paying your arrears as soon as you are able to do so. By paying even a small amount it will demonstrate to your lender that you are making efforts to repay the arrears.
::If your mortgage lender does take you to court, it is important that you attend the hearing to explain why you have been unable to pay your mortgage. Just because the lender has asked the court to give them possession of your home does not mean that the court will do so.

::Get help. Oldham’s Citizens Advice Bureau offers free, independent and confidential advice.

You should seek advice as soon as you start to have difficulties but even if your mortgage lender is taking you to court it is not too late to get advice.

The CAB’s housing team runs drop-ins between 1 and 4pm on Monday and Wednesdays. The team can be contacted on 0161-620 9317.