Repossession
Taking action to repossess a property involves a number of stages, which can take a few weeks or months. You will be able to stop the process at any stage with a sell and rent back deal. Just remember, as little as three missed mortgage payments can quickly lead to a repossession order on your property, so it is wise to act sooner rather than later.
If you are facing a repossession order all is not lost, even if you have a court date looming or have already been to court and secured an extension. Contact us as at the Home Alliance as soon as possible and explain your situation.
Call us now on free phone 0800 077 6882 or fill in the Quick Instant Form
With the power of corporate finance, the Home Alliance will be able to negotiate with the court and prevent the repossession from happening as, by selling your property, you will have a credible means of servicing the mortgage debt. Usually you will be given at least one extra month by way of an extension to settle your arrears or sell your property and pay off your mortgage.
Repossession should be avoided at all costs as it is not just a home that will be lost. Repossession would leave you with a very poor credit rating making future lending near impossible. In addition to this, once your house has been repossessed and sold, the mortgage lender can sue the home owner for any shortfall, which often results in bankruptcy.
By selling your property to The Home Alliance and preventing repossession, you will be able to stay in your home, your credit rating will not be further affected and nobody will know that you are in financial difficulty.
