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Stop your house being repossessed

Stop House Being Repossessed

Here at Sell My House Quickly Chelmsford, we would like to share some key points to help stop your house from being repossessed.

If you are in this position these key point below will help to provide some guidance.

How Do I Stop a Repossession Order?

Despite what you’ve heard, you can stop a repossession order at any time, nearly up until eviction day even! Let that great news sink in for a minute. Now that you’re a little more relaxed, let’s look at how you can do it, shall we?

Your options to avoid repossession of your home:

  1. Make a plan to settle your mortgage debts.
  2. Write a letter to your lender attempting a mortgage negotiation.
  3. Look into free mortgage-rescue services you could potentially qualify for.
  4. If your lender has already filed a claim against you, take these next steps.
  5. Prepare evidence and legal representation for your repossession hearing.
  6. If you were issued a repossession order, ask a legal adviser if your circumstances qualify to file for a new order to keep your home.
  7. Try to make a new financial agreement with your lender.
  8. Consider getting a bridging loan to resolve your mortgage arrears and stop repossession.
Stop House Being Repossessed
Stop House Being Repossessed

 

No matter how you go about stopping a repossession order, you must sort out how you would like to deal with your mortgage problems. At the very least, you should start making a plan and then convince your lender to agree with you. Believe it or not, the law requires lenders to be open to receiving your suggestions, whether they like them or not.

However, it’s not enough to just write a brief letter to your lender saying that basically:

“I’m working on my arrears. Please don’t start trying to take my house away from me yet.”

You’ve got to present them with some kind of clear, fairly reasonable plan that could work to resolve the debts you owe them. Remember that it’s better to present some kind of repayment strategy to them rather than just sit back and do nothing. Taking no action just makes you appear to be uncooperative and gives them the legal upper hand.

For the full article originally posted by TIC Finance

Here are Sell My House Quickly Chelmsford, we like to solve people properties problems in an ethical way to find win-win solutions. If you would like to find out more please contact us.