Over recent years, many homeowners have found themselves in a repossession situation where they are at risk of having their home repossessed and losing everything they have worked so much for over the years. Repossession is a process that can have a serious negative impact on your life and your financial situation and can affect you in many ways. When you are under the threat of repossession life can become incredibly stressful and if you do finally get repossessed you could lose everything from the roof over your head to your financial status and credit rating.
Once you find yourself on the Repossession Registry, finding a lender that will offer you another mortgage in the future becomes extremely hard and even if you do find one you will end up paying extortionate interest rates. Another thing to bear in mind is that for twelve years from the time the repossession goes ahead, the lender can continue to hound you for any balance still owed following the sale of your property, so you could be living with the after-effects of the repossession for many years to come.
The repossession process in itself is very stressful, as it can involve court action and could even result in your being forced to leave your property. When a repossession is going through you will be presented with a summons that gives details of the court dates for the hearing. Once the date comes around the usual outcome is that you are given a repossession order and have just two months or less to leave the property. If you haven’t left within the specified period you could end up being forced out of the property by bailiffs unless you are able to clear the arrears or in some cases the entire mortgage balance.
With all of this in mind, it is important to take steps to stop repossession as quickly as possible before it is too late. The good news is that at Genuine Property Buyers we can help to stop repossession in its tracks, so you won’t have to put up with all of the stress and hassles outlined above. We are able to stop repossession by getting your house sold to a cash buyer, so you could have the money in a matter of days and you can stop repossession proceedings straight away.
We are able to assist even if your property has little or no equity, so if you want to stop repossession and get your life back on track simply contact us today. You can call us to discuss the process to stop repossession on your property or just fill out the no-obligation form online and we will be in touch.