Posts Tagged ‘stop repossession’

Essential Tips to Stop Home Repossession in Stockport

Wednesday, September 28th, 2011

Home repossession is a serious problem in Stockport. The entire country has caught the fever; homeowners from all over the country are afraid of repossession. Everybody is trying to figure out an easy way to stop home repossession in Stockport and in other areas of the country.

Here are some useful and realistic tips that help you to stop repossession not only in Stockport but anywhere in the country.

  1. First, do not get nervous – you can stop repossession and keep your credit in good shape.
  2. If you feel that you might be under financial hardship in future, talk to your lender first.
  3. Do not neglect any kind of communication from your lender, be it a mail, snail mail or phone call.
  4. You should realise that your lender also does not want to repossess your house; it is an expensive process. They would try to help you so that you can pay off the loan.
  5. Fast property sale is the easiest way to stop home repossession in the country right now.
  6. By selling house fast you can stop repossession and save your credit

This list consists of some do’s and don’ts as well. It gives you a brief idea on what to do and what not to do when you face repossession in Stockport. The same tips are applicable for the homeowners who are into similar situation anywhere else in the UK.

310 Repossession Orders Issued in the Second Quarter of the Year

Tuesday, August 23rd, 2011

According to an article published by the kentnews.co.uk 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.

Repossession rate is set to rise by 12.5% in 2012

Friday, June 17th, 2011

Repossession rate is still under control because mortgage rates are low. According to the Council of Mortgage Lenders (CML) the mortgage rate will continue to remain low in 2011. And then it will start to increase modestly in 2012. This will definitely have an impact on the number of house repossession all over the country; the repossession rate is likely to increase by 12.5% – that is what CML has predicted.

The repossession rate did not go beyond control because the mortgage rates were low; during the recession of 1991 higher number of people faced repossession compared to present statistics. Just imagine if mortgage rates start to increase in 2012, then situation may become really tough.

Many homeowners are still not feeling the tremor; but that does not mean they are safe! Once the mortgage rates go higher then the true picture will become visible. Once people realise that the plate is getting hotter they will start looking for a solution; perhaps they will try to sell their house fast to stop property repossession.

If thousands of people start selling their house suddenly, it is likely to create a disturbance in the market. There will be more sellers in the market than buyers; the demand and supply balance will get damaged making it tougher for the sellers to find a buyer.

You know that the easiest solution to stop home repossession is fast property sale; still you will not be able to achieve it because there is no buyer. This can be painful! How long can you wait for a buyer; your credit is on stake after all.

Stop Home Repossession with Cash Buyers

You can work with cash buyers and get rid of all the worries. Cash property buyers can help you sell your house quickly even when the market is down. With ready cash they can help you close the deal quickly.

Reputed cash buyers will pay you close to market value for your property. If you are planning to sell house today or in future, consider working with cash buyers.

It’s never too late to try to stop home repossession

Wednesday, June 8th, 2011

There are several things that you can do to stop home repossession. Here is a list of actions that you can take to protect your home from repossession.

Talk to your lender

As soon as you realise that you might miss your mortgage payments, talk to your lender. Lenders would always talk to you and help you in all possible ways so that you can avoid repossession and keep the home. No lender can take the borrowers to court if they do not complete the pre-action protocol. The lender has to help the borrower to pay the mortgage before taking them to court.

Once you contact your lender and let them know about your situation they must cooperate you in following ways:

  • Inform you how much you owe to them
  • Consider your repayment proposals if any
  • If they do not accept your payment proposals, they have to show you the reasons
  • If they decide to start legal actions against you, they have to give you 15 days notice

Lenders can help you in following ways:

  • Increase the loan terms so that monthly payment gets reduced
  • Agree to accept reduced payments for a short span of time
  • Adding the debts accrued due to non-payment of monthly instalments to the principle debt that you borrowed

However, to get such cooperation from your lender you have to do the following things:

  • Show them that you also want to pay the mortgage and you want to cooperate with them; never neglect any correspondence or phone calls from them
  • Pay as much as you can
  • Keep in touch with them
  • If the lender agrees to change the loan terms or agrees to accept reduced payment, then get it in writing

There is another alternative; you can sell your home fast.

Sell house fast to cash buyers

Cash buyers can help you to stop repossession by offering a quick sale. They are property investors; they can purchase your house for instant cash. You can use the money to clear your debts and keep your credit in good shape by avoiding repossession. Inform your lender that you are going to sell your home so that they do not start any legal proceedings against you.

There is a third option also; you can seek independent money advice from independent agencies such as Citizens Advice Bureau or Shelter. Take the right step and protect your credit from the stigma of repossession.

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.

Repossession Rate is Likely to Go Down

Thursday, April 28th, 2011

According to a recent article published by The Belfast Telegraph cash for homes sales touched a record number in January. The report says “A record 40% of homes that changed hands across the UK in January were bought by cash buyers.” This is a good sign; troubled homeowners at least have realised that selling house to those who do not need mortgage is easier than selling house on the open market. Sooner others understand this fact the better.

It does not mean that you cannot sell house quickly on the open market; of course you can. But you will need a luck factor – you never know how long it will take to get in touch with the right buyer who would agree to buy your house and would qualify for mortgage as well. But if you work with cash buyers, rest assured that you would be able to sell the house in 7 to 10 days.

According to the report 40% of the properties sold in January were sold to the cash buyers. It means financially distressed homeowners have started recognising the benefits of working with cash buyers. People have realised how cash buyers can help to stop repossession in UK. The rate of repossession will definitely go down in near future.

There are two types of buyers who offer cash transaction – investors who purchase properties for the sake of investment and senior citizens who have cleared their mortgage and are now planning to move a small house simply for the sake of downsizing. If your house is a small one you can target the second group also. And you can contact professional property buyers any time.

To make things faster, you should look for local buyers. If you are trying to stop property repossession in Swindon look for active property buyers in Swindon area. They can offer you a quicker and smoother service.

If more people decide to work with cash buyers, like you, repossession rate would go down certainly.

Repossession is on the rise – How to avoid property repossession in UK

Thursday, February 17th, 2011

If you read the warning signs you can easily understand that repossession rate is increasing and it will continue to increase in the coming days as well. To control inflation the base rate may be increased; it also has been predicted that mortgage approval rate would go down this year. The resultant effect will push the property repossession graph up.

Is your home at risk? If yes, take suitable steps before it is too late. Repossession is a nightmare in true sense of word; everybody involved with the process go through a stressful series of incidents when a property is repossessed. And surprisingly the repossession often fails to solve your financial problems as if there is a shortfall, the creditors will keep following you for the residual debt.

How to avoid property repossession:

Are you in a position to pay off the mortgage arrears in full? Then clear the dues and your home will be saved; your credit as well. If that is not possible, you can simply sell off the house and repay the outstanding amount with the cash you receive from the deal.

The problem is: when you are in hurry and need to sell the house fast, you cannot wait for long to find a buyer. In this dripping property market it is quite difficult to find a buyer for your home. In that case, you have to be smart; why don’t you sell the house to the cash buyers?

Cash buyers help you to stop repossession by offering a really fast and reliable property selling solution. Property cash buyers are ready to purchase your house for quick cash; this is very helpful when you need instant cash.

To avoid property repossession contact cash property buyers in your area. If you are trying to stop repossession in Swindon, look for buyers in Swindon. You can actually sell the house off within a week and stop repossession.

Mortgage approval rate remains subdued – Now what!

Wednesday, January 19th, 2011

Hometrack, leading property intelligence service provider in UK has revealed that mortgage approval rate will remain low in 2011. Hence it is clear that home buyers will be facing a challenging situation to get mortgages this year. This will definitely have an impact on the property market.

According to the stats 100,000 fewer mortgages are going to be approved in 2011 than the previous year. Strict mortgage criteria, unstable job market and fear of repossession have kept property market down. If the mortgage approval rate falls further, the situation won’t improve much in near future.

The property market is not in a good condition now and such forecasts would make the situation more uncertain. Already there are more sellers in the market than buyers; if mortgage approval rate goes down the situation will remain same, if not worse.

Distressed homeowners who are trying to sell their properties in the open market would find it more difficult to get a buyer. Instances of delays and broken chain will continue in the coming year leaving sellers in a helpless condition.

And there is no solution to this problem as this is not an isolated issue. You cannot change the policies. You cannot blame the estate agents for not being able to get you a buyer because it is not in their hands at all. Even if they connect you with a buyer and the buyer agrees to purchase your home, there is no guarantee whether the buyer would be able to get mortgage.

The only feasible and realistic solution is to contact the cash buyers who are ready to purchase your properties by paying instant cash. Property buyers are investors; they do not rely on mortgage to purchase any property. No matter whether banks will grant lesser number of mortgages or introduce stricter criteria, cash home buyers can always offer you a quick deal in 7 to 10 days.

In case of immediate financial crisis or to get property repossession help, contact cash property buyers in your area.

Sell your house tomorrow if not today! Stop repossession

Monday, November 8th, 2010

Fast property sale is one of the best ways to stop repossession. You can save your credit by selling the house any time. The problem is: when thousands of people are under the same situation and trying to sell their houses fast to stop house repossession then selling house quickly may appear to be a big challenge.

But here is the good news; you can actually sell your house tomorrow for instant cash if you contact us today! Home buyers in UK can help you sell your house within 7 to 10 days or in lesser time.

Sell house tomorrow

How to avoid repossession by selling your house fast

You can stop repossession at any stage; here are the different types of situations when quick sale can help you.

1] You are afraid that you may miss your mortgage payments in future
2] You have already missed one or two instalments
3] Your lender has sent you a court order
4] Eviction notice has been issued

If you belong to group 1 or 2, you should talk to your lender first. They may offer you some customised solutions to help you pay off the debt or restart the mortgage. If no solution works out, then only they will start the legal processes.

By paying the debt you can put a full stop to all the problems. Repossession is not good for your credit and it will push you back from getting financial opportunities for many years. You can sell your home for quick cash and stop home repossession by paying cash to the lender.

Find reputed home buyers in your region. Based on your situation they will extend repossession help to you so that you can get out of the problem soon. Most of the cash home buyers allow you to sell your house within 7 to 10 days so that you can stop repossession and save your credit before it is too late.