UK - Tom Crawford - Eviction

[fat frank]

there plan is the high court, tom was there yesterday but wont tell any one what happened

[Skeleton]

Aplogies, I should have been clearer, there associated with thousands of estate agents up and down the country if rent-a-mob are clever enough to work that out.

[YiamCross]

I think the plan is to appeal even though their application to appeal has been turned down. For some reason Crawfraud thinks that the courts haven't understood his evidence that the banks have defrauded him and if they'll only look at it yet again but more carefully they will finally realise that he's been right all along.

It's not a great plan and I think it's chances of success have been demonstrated several times over the years.

[PeanutGallery]

there plan is the high court, tom was there yesterday but wont tell any one what happened

I'm going to wager he was told by a court clerk that they can't offer legal advice as they aren't legally trained, he didn't get to see a Judge, and he took one step closer to Mr Ebert by submitting papers that would have no legal bearing.

As to what Tom's plan is, I think Yiam has it square on the head.

[ArthurWankspittle]

In my opinion it will be to disrupt as much as possible then steal in with a ridiculously low offer in the name of Craig etc - but to do that would be them publicly admitting defeat !

The Crawfords and their moron mates aren't that clever. Neither does any of them have the money. They are too stupid to realise that the more they disrupt this sale, the less money Tom gets.

Unless the inheritance was to be used to clear the debt up !

Too late, I think, unless they want to go back to court now, agree to sell the inheritance to pay the debts and costs to date (assuming the inheritance covers this) and agree to keep paying the interest on the mortgage until the sale is completed and the debt paid off. All of which would be perfectly reasonable for normal people, and I'd bet you could get a judge to go along with it if the numbers stacked up. But, of course, to do than would mean admitting that the mortgage company has a mortgage. So, to keep up with the delusion, the Crawfords can't do that. This delusion has probably screwed the possibility of two generations of Crawfords ever owning a decent home.

[timcurgenven1]

The house will be going back on the market in due course.

[littleFred]

I am reminded that the 1st May hearing was interrupted by chanting from the mob. Michael Waugh went outside and loud-hailered the mob, telling them that this was Tom's hearing and they were reducing his chances of winning, and did any of them really want Tom to lose? Michael is an idiot who played a major role in losing Tom's house, but I'll give him credit for that action.

Tom and the baying mob need telling that current actions against the sale will probably make Tom bankrupt. He could take the profits from the sale, or go bankrupt. The mob are doing him great harm. They won't listen to a Quatloosian, of course. But a voice from inside the mob might calm them down.

[hanlons razor]

Yeah, they won't back down now. Doing so would be acknowledging they have been wrong (ill assume that rather than dishonesty) every step of the way.

Unfortunately in circumstances like this reason evades people and walls just get built higher. And higher.

[PeanutGallery]

Tom and the baying mob need telling that current actions against the sale will probably make Tom bankrupt. He could take the profits from the sale, or go bankrupt. The mob are doing him great harm. They won't listen to a Quatloosian, of course. But a voice from inside the mob might calm them down.

Unfortunately any one saying that is swiftly attacked by the mob. Look at LeTissier, he's been posting words to that affect on GOODF and has received only scorn for this action. They cannot and will not see the harm they are causing and I would wager when the harm is done, will blame the banks rather than themselves.

They have gone past the point where I would think they could be reasoned with.

[Skeleton]

Some of the responses on GOODF to this amaze me, there are even people trying to encourage a "Mortgage Strike" Even there own side seem somewhat perplexed by it, i can not say i blame them as it is apparent the people pushing for said strike don't have a mortgage! You really could not make this up!

[FatGambit]

I've never had a mortgage or been in the position of repossession but are you sure that Tom would receive the excess?

Say for arguments sake he owes £50k
The property is repossessed and sold in a bidding war for £80k
He won't get the £30k will he? The bank will just keep that right? They took the property to pay the debt etc.

[daveBeeston]

I've never had a mortgage or been in the position of repossession but are you sure that Tom would receive the excess?

Say for arguments sake he owes £50k
The property is repossessed and sold in a bidding war for £80k
He won't get the £30k will he? The bank will just keep that right? They took the property to pay the debt etc.

If he owes £50k in total and the house sells for £80k(highly unlikely)then yes he would get £30k.

[NYGman]

I've never had a mortgage or been in the position of repossession but are you sure that Tom would receive the excess?

Say for arguments sake he owes £50k
The property is repossessed and sold in a bidding war for £80k
He won't get the £30k will he? The bank will just keep that right? They took the property to pay the debt etc.

He owes a specific debt. Basically the balance of the loan, accrued interest on the amount outstanding, legal costs, eviction costs, moving costs, basically any costs specified in his loan do, which cover most things. This will add up to an exact amount. In your example, say 50K for the loan, 15k for expenses, you would get back the 15k overage, as there is no claim against that amount. So, if there was any excess, they would get it back, but that doesn't seem likely in this case, as it looks like Tom and Company are doing everything in their power to reduce the sales price.

[JonnyL]

I've never had a mortgage or been in the position of repossession but are you sure that Tom would receive the excess?

Say for arguments sake he owes £50k
The property is repossessed and sold in a bidding war for £80k
He won't get the £30k will he? The bank will just keep that right? They took the property to pay the debt etc.

The difference is paid back to the former owner. The bank only repossess then sell the house to claim back what is owed on the property, ie any capital owing interest and other accrued charges during the repossession process.

[YiamCross]

I am reminded that the 1st May hearing was interrupted by chanting from the mob. Michael Waugh went outside and loud-hailered the mob, telling them that this was Tom's hearing and they were reducing his chances of winning, and did any of them really want Tom to lose? Michael is an idiot who played a major role in losing Tom's house, but I'll give him credit for that action.

I think you're being generous. I saw the same video and I though his action was rather self serving and pompous, not so much to quell the mob but to bathe in the warm glow of power and status. Colour me skeptical but he comes over as an arrogant, ignorant where he's not incoherently crazy.

Tom and the baying mob need telling that current actions against the sale will probably make Tom bankrupt. He could take the profits from the sale, or go bankrupt. The mob are doing him great harm. They won't listen to a Quatloosian, of course. But a voice from inside the mob might calm them down.

Sadly all those who might have been close enough to have credibiltity were booted out in the early days when they tried to point out that the Crawfords had not won but were going to be evicted sooner rather than later and the only way out was to pay what they could and come to an agreement for the rest. All that's left are the idiots who are egging them on because they have been lied to or are too crazy/daft to understand even if they hadn't been.

I hope Sweaty Sue and TC are enjoying their brief stay at Chez Sue's mum because it's going to be a short one. Since they've publicized Sweaty Sue's mum's death I imagine there will be some close scrutiny of the Crawford's finances to ensure any sizeable assetts coming their way are liquidated to pay the outstanding debt. Which, from the way the mob are hindering the sale of Castle Crawford, is only going to get bigger.

[YiamCross]

....
He won't get the £30k will he? The bank will just keep that right? They took the property to pay the debt etc.

Sadly it cuts both ways. Sure, he'd get the difference back but he'll also be saddled with a debt if there's a shortfall between the sale price and the total owed after all the costs have been added on.

So, delaying the sale is adding quite a bit in interest and, espcially, security costs. Not content with that they are making the bungalow unattractive to most people and ensuring anyone who mihgt take a punt on it will want it for next to nothing. Impressive, increasing costs and reducing the likely sale price all in one fell swoop. With friends like that who needs enemies?

[JonnyL]

I wonder what the legal costs come to prior to the eviction? He must have eaten a large chunk of equity in his failings in court. Anyone know how many court appearances they had?

[FatGambit]

Hmm thanks, I didn't realise that's how repossession worked, I thought if there was anything left over then the bank would just keep it, I knew if there was a shortfall you were in deep doggie dodo though but I just assumed any excess was the banks.

With that in mind, it shows how incredibly narrow minded (and stupid) they have been, they could/should have sold the house, paid off the balance and rented a nice granny flat or blown it all on a word cruise instead of the lunacy they've followed. All this crap is now just making things even worse.

I do feel a little sorry for them, well not them directly, but anybody who takes out a mortgage, the deck is entirely loaded in the houses favour and once you've committed, your screwed, but on the flip side those are the terms they (the morgager) agreed to, so no use complaining if you suddenly don't like the terms 20 years down the line.

[littleFred]

I admit I may be giving Michael Waugh more credit than he is due.

Say for arguments sake he owes £50k
The property is repossessed and sold in a bidding war for £80k
He won't get the £30k will he?

Yes, he will. If the house sells for more than he owes, he will get the difference. If it sells for less than he owes, he will still owe money.

Tom owes about £45k for the mortgage plus a load of costs and fees. See various speculation on Q on how much this might be. I think mortgage plus £30k is a plausible guess, so Tom would owe £75k. If it sells for £80k (after auction fees), Tom walks away with £5k in his pocket.

If the baying mob reduce the auction price by £20k, Tom (and/or Sue) walks away still owing £15k.

If Sue's mum had any assets, I suppose Sue (or Tom) is doing a deed of variation to ensure she gets nothing.

[Normal Wisdom]

Has anybody got a picture of the house in "boarded up" condition?