Feb
10
First-time buyers made a surprise return to the housing market in January while repossessions fell to a four-year low, in some rare good news for the property market.
Source: First-time buyers return to property market
Sep
16
Repossession advice and assistance
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An Essential Guide to The Home Repossession Process
Firstly, there has to be a legal reason for your home to be repossessed. Secondly, Your home can not be repossessed at a a court hearing. Only a judge can decide to repossess your property, not the mortgage provider. What you do now may affect the judges decision.
Repossession help -- Are you In Mortgage Arrears With Your Mortgage Lender?
One of most common reason is if you have mortgage debts. If you get into debt with your mortgage provider, that means -- the moment you miss a payment on your mortgage. Your lender can send you a formal letter asking how the arrears will be repaid.
If you fall further behind on your mortgage re-payments, and have not come to an official agreement on how to repay the debts you owe , then the mortgage company can start repossession action to claim back your home.
Our Repossession Advice Specialists have claimed that Repossessions have increased year on year since 2004, with figures set to rise again for 2010 as the number of homeowners in mortgage arrears rises by 8.6%.
“Our evidence shows that lenders are not always doing everything they can to help borrowers who are facing problems, all too common they are piling on extra charges and being too quick to take court action rather than being prepared to negotiate affordable mortgage repayment arrangements.” – Sue Edwards, Citizens Advice on House Repossession
Essential Advice On The Repossession Legal Process
Being able to repossess a house involves a set number of stages, each taking between a few weeks and a few months each. You can try to avoid the process at any stage, however the earlier you take action the more options you will have and the less likely it will be that you have to pay any legal costs.
You should note that no-one can evict you from the home unless the court says that they can and the court will not make a decision before the hearing date. What you do may affect the court’s decision. It is wise to always take action immediately. The repossession process must by law follow a certain proven process -- if it’s not done correctly, you may be able to avoid or delay the eviction.
Do You Require Further Repossession Advice, Help & Assistance?
If you need further assistance on home repossession and how it can effect you and your family, and pratical assistance on how you may be able to prevent it then please visit our friendly repossession experts.