Repossession is one of the
worst experiences any home owner can face.
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Every one deserves a house of their own. You work hard
and save money to get on the property ladder. Then you do your
very best to keep up with your mortgage payments. And then, for
no intentional fault of your own, you start to get behind
mortgage payments.
People miss payments because of financial pressures. For
many, it could be job loss, illness, bereavement in family,
bitter divorce or separation, business debts or other financial
reasons.
In today's climate, most lenders are becoming less patient
and threatening house repossessions at earliest stages.
However most repossessions can be stopped.
Easiest way to stop repossession is to find some one who
will buy the property which will pay off all the debts
including mortgage and any secured loans. Another way is to
communicate with the lender and explain your situation (this
may get you some more time).
We have experience of stopping repossessions at the last
moment. In one instance, we managed for the bailiffs to be
called back from the property by lender. Although it was
possible to save this property from getting repossessed, this
is an extreme example of the home owner leaving things till too
late. We definitely do not recommended leaving things to
chance.
It is best to take action as early as possible - rather than
hoping that the problem may go away some how - because it will
not. Lenders want their money back and they emply an army of
lawers to help them do that.
Are you facing threat of repossesion? Can we help? Start
with submitting your property by clicking here.
More articles on stopping repossession:
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