Even the thought of house repossession can be distressful; actually facing it can be one of the most difficult things in a person's life. But what happens after repossession? When you actually find out that your house will be repossessed. We know that you must have struggled really hard to stop your house repossession. But the repossession still goes on anyway, what do you do now?
Repossession order
When you make mortgage arrears, your lender asks for the due payment for initial few months. If you still don't make the due payment, your lender can take you to court. You can still have an arrangement with your lender to make your arrears good over time; in this case the repossession will not proceed further. Somehow if you fail to have an agreement with the lender, the court will then take ahead the repossession proceedings. Hence you get an order to leave your home within a specified time limit.
Eviction order
If you choose to ignore the court's order to leave your home at an appointed date, it can get really ugly. An eviction order will be issued on the request of your lender and solicitor. The bailiff will give you the date of eviction. The bailiff can issue a notice that can be carried out within 7 to 70 days. If you still refuse to cooperate after notices and extensions, you can be forcefully removed from your property by the bailiff and they would do so within legal means. It is your choice to either leave your property without making a scene or being thrown out.
House sale after repossession
Just because your house got repossessed that does not mean that you are debt-free. Your lenders can still chase you after the repossession if your due amount from the loan is much more than the sales proceeds of the repossessed property. Therefore, it is your duty to make sure that your property fetches the highest possible price. If you feel that the lenders are not considerately selling it, you may file an injunction in the court to stop the sale process and postpone it for a more appropriate offer.
Looking for a new house
After leaving your house it is always difficult to look for a new one. If you make a sale to a cash buyer at least you get some breathing space and can sort out your issues in an organised way. Therefore, it is better to make a quick house sale instead of being evicted.
Compare Home Buyers is a quick buying company. We help you stop repossession, no matter what stage you are facing. Our practical and dependable advice will solve your repossession problems. Call us or fill in our quick contact form. Our well-informed staff will assist you all throughout the process.
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Repossession Questions And Answers stop-repossession-2-day gives dependable answers to stop repossession. See some of the frequently asked question related to repossession
Repossession Report Repossession is possible to avoid, if you are aware of your options. Know the different stages of repossession to deal with it in a better way.
Stop Repossession Service Benefits Home repossession can be stressful; owners have to find out a smart way to deal with home repossession and save their home.
They came in, completed the sale, and I got my money within days! Fully transparent and fair dealing.
Mr. & Mrs. T., Reading
We had found our dream house but were let down by our estate agents and were at risk of losing the property. Yellow Springbok provided a speedy and professional service and everything was resolved within a couple of weeks.
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I'd been trying to get rid of my property for months. Then I saw Yellow Springbok advert. The process went really smoothly and I got my cash in no time.
