There are around 100,000 mortgage possession actions instigated by banks and other lenders every year, many of which could have been stopped by prompt action, such as arranging a new mortgage with a repossession company. If you are facing imminent repossession – or even if you are in mortgage arrears then it’s important to take action quickly. The problem is…
Tag: Repossession
Mortgage Repossession Can Devastate A Homeowner
About the last thing an individual or a lender want to do is become embroiled in a mortgage repossession procedure as it can be devastating for a homeowner to lose their residence and it detracts from the daily business of the lender. However, in troubled economic times foreclosures may be on the rise as many people struggle to meet the…
How To Avoid Repossession Today
Using a loan or a credit card to make a huge purchase is good for you because you are going to be able to have something, like a house or a car that you aren’t able to afford to pay for just out of your pocket. Using loans means that you can have anything you want, and you can pay…
Are You Considering Buying A Repossessed Home You Might Want To Know How That Home Comes On The Market In The First Place
Statistically, the figures for home repossession have risen by 45%, according to Government figures. There can be many reasons that lead to house repossession, such as: divorce, credit card debt, illness, secured or unsecured debts or separation. The process of repossession can legally begin when 2 payments to a lender have been missed. The first missed payment brings the borrower…
The Facts About Repossession And How It Works
When you face repossession of your home or your car, you may need to declare bankruptcy to save them. If creditors have a valid lien or mortgage on either your vehicle or you real estate filing bankruptcy will temporarily stop any repossession process. If you have already had your car or home repossessed (foreclosed on, in the case of your…
How To Protect Yourself From Repossession
When a person buys a vehicle they usually get a loan for the purchase. This loan is called a secure loan and the vehicle is used as collateral for the loan. What this means is that if the person fails to pay their loan the lender can reposes the vehicle and sell it to pay off the loan. Repossession is…
Sell Your House And Rent It Back Today
Are unpaid bills, medical expenses or lack of employment, or a cut in your wages threatening your home with repossession and foreclosure? Due to circumstances beyond their control, losing one’s home happens to even the best, most hardworking people. With more homeowners in greater debt than ever before, the rate of residential property repossessions and foreclosures is skyrocketing. The thought…