20 Nov Stopping House Repossession
Stopping House Repossession
Are you looking at stopping house repossession? Facing repossession can be very stressful and makes you want to bury your head in the sand to hope it all goes away, this is the worst thing you can do. If you are stopping house repossession you need to act quickly and decisively. Repossessions are caused by failure to keep up repayments on your mortgage or other secured loans on your property, which are caused by excessive borrowing, losing you job and not being able to keep up with the repayments. Here at Home House buyers we can help stop a repossession order or an eviction warrant, simply call 0800 6121 366 or fill out an online form simply click the Repossession link and don’t put off stopping house repossession
Depending on what stage of the stopping house repossession process you are at will depend on what action you should take, the main advice we can give is to contact your lender immediately to try and negotiate a repayment strategy. Here are few stages of the repossession process:
Court Hearing For Repossession
If you have received a letter of intended court action or the letter is a court hearing date, this has now turned serious and you are facing repossession and at risk of losing your home.
You will of received this letter if you have multiple mortgage areas and the lender usually takes action after the third missed payments. That’s when they can ask the court to issue a possession hearing. The main aim of a possession hearing is so the lender can gain possession of your property to redeem back it’s lending.
During the hearing, the lenders solicitor will present evidence of your arrears, the outcome of the hearing will all depend on your defence that’s why we suggest a solicitor when stopping house repossession. The most favourable outcome for the defendant would be a suspended possession order which will give you usually 28 days to get their affairs in order i.e try to clear the balance.
Vitally, you will be much better off by gaining the maximum period of time, over which the “suspended order” can run. This can allow you more time to; arrange suitable temporary accommodation, sell your property at an appropriate price on the open market, find suitable/more affordable rented property or in fact, work within an affordable overpayment plan, (a formal “Financial Arrangement”), to let you to bring the account up to date, over a longer period, thereby allowing you to retain your home.
If you receive an eviction notice the bailiffs will be at the house on that particular day which you are required to be out, the bailiffs have the power to remove you and your family out of the property and anybody else living there, even your family pet. The Bailiffs will change the locks and it’s now the property of the lender so you have no right to be in the property and stopping house repossession will be too late.
Stopping house repossession, if you do receive an eviction notice it’s never too late to stop it from happening even at this stage, this is a horrible situation for any homeowner, but we can help.
If you have been served an eviction warrant or if you have an eviction date you should contact us immediately and we will help you obtain a county court hearing by completing form N244. Judges are keen to avoid a house repossession wherever possible. We can help you complete the form and provide valid reasons with plausible timeframes by which debts and arrears can be settled to help the stopping house repossession process. Even if you have previously served an N244 form and successfully prevented your house from being repossessed before, this does not prevent you from serving the form again. However, if you have served an N244 form previously you will need a convincing argument to persuade the judge to suspend the eviction again.
If you miss any repayments to your mortgage or secured loan you’ll be in a vulnerable situation to them taking further action.
If you only miss one payment this isn’t a big issue to the lender as you can come to some sort arrangement and spread the cost over a few months but if you don’t contact them and just keep up with your repayment you’ll always be one payment behind and if you miss another you will be vulnerable to repossession.
When you start to miss multiple mortgage repayments this is when the lender will take immediate action to try and cover its position and get possession of its asset, stopping repossession is still possible at this point.
Stopping House Repossession Options
Payment Plan/ Financial Arrangement
When you agree to spread the arrears over a few month on top of you existing repayments this is when a lot of the time things go wrong and homeowner struggle to keep up with the new repayment plan. If the plan has been granted through the court possession order proceedings and you fail to meet the repayments the lender doesn’t have to go back to court they simply have to make an application for an eviction order and stopping house repossession becomes more difficult.
This is the best option of getting the best price for your property, if you are struggling with the repayments and repossession is looking imminent then speak to your lender to try and get some sort of agreement in place where you explain you’re in difficulty and you’re trying to sell the property. This will be the preferable route for your lender, but you need to be a motivated seller with a realistic price to sell and to get help stopping house repossession.
Stopping house repossession and going through a private sale this is the quickest and simplest way to sell your property. Be aware though that auctioning your property there are auction fees and solicitors costs to pay and your property will more than likely sell below market value.
Quick House Sale Companies
Choosing the right company is imperative there are lots of fast house sale companies out there and a lot of them aren’t what they purport to be. Do your research on these companies ask them whether they are buying your property or selling on to an investor, don’t be afraid to ask for proof of funds which will ensure they are buying it and not acting as a middle man. Stopping house repossession can put you in a vulnerable position so make sure you choose the right company that won’t take advantage of you. Home House Buyers are a reputable company that has the funding available to purchase your property and stop a house repossession to get some advice and a no obligation cash offer call 0800 6121 366 or fill out an enquiry form then we can contact you.
Stopping House Repossession Organisations:
Stopping House Repossession Process
Stopping house repossession is possible when you use Home House Buyers. We have over ten years experience with deal with stopping house repossession and have helped many people avoid repossession. The first step is to call a member of our team and discuss what is the best option for you. There will need to be equity in the property for us to be able to purchase the property from you.
Contact our office
You can call a member of the stopping house repossession team on 0800 6121 366 or if you would prefer then you can fill your details in here GetAnOffer and you will receive a callback.
Get An Offer
We will come back to you with a ballpark figure and that fits in with what you need to achieve then we will book in an appointment for one our regional evaluation team will then put forward a confirmed cash offer.
All our solicitors specialise in stopping house repossession and even better we can pay their fees for the process. All you need to do is fill in your paperwork and send it off, we do the rest.
Pick a completion date
You need to then pick a completion date which suits you. you have up to three months to pick the date but we advise that you work towards one that allows us enough time before the property is due to get repossessed.
Move into your new Property
We can help you arrange your onward move. If you are a bit strapped for cash then we can look to lend you some of the proceeds of the property in order for you to find a rental property. Stopping house repossession is our speciality, so just give us a call for a free cash offer 0800 6121 366.
Seven Step Process
The actual repossession process can change depending on the lender but as a rule of thumb, there will be seven step process to Stopping house repossession.
Once you start to fall behind with payments (normally six months) then your lender will normally approach you to rectify the problem by writing to you. When you are trying looking a stopping house repossession then you should seriously consider all of your options before you put forward a proposal about how you intend to sort out the arrears.
If they don’t hear from you or they are not happy with your offer then they may intend to start court action to repossess your property. At this stage, the lender should still be open for negotiations.
If you continue to fail to settle the balance then the lender may apply to the court asking to put forward a possession order against your property.
The lender will have to write to your local county court giving reasons as to why the judge should I’ve the lender possession of your home. If you are looking at stop house repossession then we can still help at this stage of the process.
If your balance still isn’t settled then you may then be given a court date for your first hearing. The judge will then decide if you will be allowed to keep your home or if it should possession should be given to the mortgage lender instead.
The judge will the hear the repossession case. There is normally four possible outcomes at this point: –
1 – Your home should be repossessed. stopping house repossession at this point isn’t possible as you will be evicted.
2 – A suspended possession order is put against the property. This will allow you to stay in the house and try to sell it to pay off your balance or you will st up instalment arrangements that will need to be paid in order to avoid further action.
3 – The case may be adjourned and you will be given a later hearing date. This will allow you some time to try and sell the property.
4 – The case may be dismissed.
The court could make an order to repossess the property.
If this happens then the judge will decide that your property should be repossessed.
The judge will normally give you a date when you have to leave the property. This is normally around 28 days but sometimes can be longer. In this instance, you may be ordered to pay the court costs.
A suspended possession order may also granted if the judge decides you should have a final chance to keep your property.
A suspended possession order will allow you to stay so long as you keep to the terms agreed at the hearing. If you feel that you may not be able to keep up with the repayments then it may be ideal for you to try and sell the property, stopping house repossession.
If you have been ordered to leave the property and you decide not to leave then bailiffs will be called in.
You may be liable for the costs of the bailiffs, so we don’t advise this. The lender must have applied for a Bailiff warrant, and without this document, you can’t be removed from the property. The bailiff will normally write to you and advise you when you are going to leave the property. In some instances, you can challenge an eviction from the bailiffs.
The final stage is when the mortgage lender will sell your property.
Once you have been evicted from the property then the lender will take steps to sell your property. Throughout this time, you will be liable to pay the interest on the mortgage and also any capital repayments until the property is sold.
Once the sale has gone through the lender will clear their balance and if there is anything left after court costs then it will be returned to you. If there is a shortfall then you may end up owing the lender money.
Stopping house repossession is something that we can help with just call 0800 6121 366
When you are stopping house repossession, do you buy any kind of house?
Yes, as cash buyers we can buy any house. We buy semi-detached, detached, terraced houses, flats and bungalows. We often get many people asking if we can buy ex-council houses and again the answer is YES. We can even buy non-standard construction properties including wimpy no-fines and other construction types. If you want to know more then you can just give us a call to speak to a member of our stopping house repossession team today.
When you are stopping house repossession, do you buy houses in poor condition?
Again the answer is yes! As we are a cash buying company we can complete in a matter of days and it doesn’t matter about the condition of your property. Over the years, we have bought houses in all kinds of condition from those needing a full-scale refurbishment project and also those that are fire damaged. We can even buy your house if it has damp, dry rot and even those with structural issues such as subsidence. We don’t use mortgages to purchase your properties so we can buy any house in any condition.
We speak to many looking at stopping house repossession and the best thing to do is not leave it too late. We can help no matter the situation as long as there is enough time for us to purchase the property. We can also help you to sell commercial property fast as we also buy most types of commercial units from shops, offices and even public houses just call us on 0800 6121 366