Archive for August, 2011

310 Repossession Orders Issued in the Second Quarter of the Year

Tuesday, August 23rd, 2011

According to an article published by the 310 mortgage possession orders were issued from April to June this year. As per the forecasts, repossession rate might increase in the second half of the year. Are you secured?

If you are a homeowner and have mortgage debt, you have to ask this question to you? Thousands of homes have been repossessed over past couple of years. Situation is not different in Reading. If you want to stop repossession in Reading, you have to take a suitable step before it is really late.

There are several ways of stopping repossession. As soon as you feel that your house might be repossessed, talk to your lender. They might offer you an easier repayment plan. Remember your lender is also against repossession; it is the last resort for them. A lender does not prefer repossession because of the following reasons:

  1. It is a complicated process
  2. It is a lengthy process
  3. When house price is low, they will not get enough money to cover the outstanding debt

That is the reason they try to help the borrowers by offering simple payment terms so that they can pay it off. When you inform your lender that you are expecting a financial hardship and you might miss instalments, they will review your financial status and offer a suitable scheme.

When the situation is so grave that no rescue programme seems to be helpful, it is recommended to sell the house for quick cash and avoid repossession. Repossession is a scar on your credit history. By selling house fast you can get a lump sum amount in hand; clear the outstanding debt with this money, stop repossession and save your credit.

Home repossession rate might increase in the second half of 2011

Wednesday, August 10th, 2011

Thousands of people are already at risk of repossession; this number might increase as the lenders adjust their forbearance policies. Not a good news at all; borrowers who are yet to pay off their mortgage might fall behind the payments and face repossession.

Home repossession is a nightmarish event; your lender will take you to court, they will evict you from your home, you have to move out of your own property and find a new home and most importantly, your credit report will be hit hard. A history of repossession will stop you from getting financial services for long time.

Fast property sale is the easiest way of stopping repossession. If you want to stop repossession in Telford and surrounding area, look for fast property selling options. As the tough economic climate remains unchanged, it is difficult to sell house fast. So you have to figure out the right method to sell your house fast.

Sell house fast to stop home repossession in Telford

Once you decide that you will sell your house to stop repossession because you are so much deep into mortgage debt that no rescue programme can help you, you have to find out a buyer. You will need someone who will buy your house quickly.

And here is the catch; it is difficult to find a buyer who will offer you a guaranteed sale. Even property agents are not able to provide quick sale these days. Fast property buyers come to your rescue. You can sell your house to the buyers in Telford area and stop repossession any time.

So look for quick home buyers in Telford area; a professional buyer would offer you close to market value. You can close the deal in 7 to 10 days and stop repossession successfully. Contact a trustworthy property cash buyer today.