Archive for the ‘Repossession Help’ Category

Property market is not as paralysed as it looks like

Tuesday, May 10th, 2011

Are you a homeowner in UK facing financial hardship? Not sure how to pay off the mortgage? Afraid of repossession? Take a deep breath – there are options for you.

It is important for you to realise that there are ways to stop house repossession in UK. So do not surrender; even when the property market looks stagnant and you do not see any hope to find a buyer quickly do not give up. Market condition is not as grave as it looks like. It’s true that selling house is not easier now but if you try properly you can sell the house and stop repossession.

When first home buyers have taken a step back cash home buyers are very much active in the market; probably you did not notice. Cash buyers can purchase your house for quick cash; you can then use the fund to pay off your mortgage debt.

However, if you try to sell your house in traditional ways by taking help of an agent, you may end up with no result. As the first time buyers are dormant now it is difficult to find a buyer through an agent. You have to look for cash buyers in your area.

If you are in the advanced stage of repossession and your creditor has already started taking legal actions against you then selling house fast is the best alternative for you. Just contact your lender and let them know that you are selling the house, collect some kind of agreement from the buyer and show it to your lender – as soon as they understand that you can pay off the debt, they will stop repossession proceedings against you.

You can then sell the house on a preferred date and pay off the debt in full or partially depending upon the equity on the house.

Best tips to avoid home repossession

Thursday, September 23rd, 2010

If you want to avoid home repossession at any cost, then stop ignoring the repossession problem. There is a campaign that is launched by the national government which provides information about repossession. This campaign also helps those distress home owners who are falling behind in their mortgage payments. This campaign is welcomed by the Council of Mortgage Lenders (CML) and covers the following points:

  • Be aware of the looming repossession problem. Tackle it head on.
  • As soon as you realize that you have a difficulty in paying the mortgage payments, talk to your lender openly and honestly.
  • Think proactively. If you have never missed any mortgage payments till date. But you fear that you might miss one in the future due to the present financial scenario, your lender is there to help.

If you pay heed to the above advice, and take appropriate precaution, you would not be evicted from your home. But in case you are already neck deep in debt and struggling to pay your mortgage debts, then it’s time to act immediately. It’s never too late to talk to your lender about the financial crisis that you are facing. Take repossession help from the government campaign about the mortgage payments for the struggling home owners that are mentioned above.

If you are still being threatened by house repossession, the best option will be to get in touch with a cash buyer and sell off your house quickly. You have a choice to rent it back immediately from them after selling.

We are a firm which deals with private property buyers all over England. If you decide to sell your home quickly, please contact us now to get help.