Sell House Fast & Stop Repossession
Selling your home to stop repossession
Sadly, it is not uncommon for homeowners to start struggling financially. With a change in circumstances, it is easy to find yourself in a situation where you cannot keep on top of your bills and eventually, you are threatened with having your home taken from you. Struggling with money is incredibly stressful and having the threat of repossession looming over you, makes it an even more difficult time. The repossession process itself is daunting, often involving court action where you will need to attend a hearing. If you are served a repossession order, which is a likely outcome in this situation, you will be given a date you need to vacate the property by and if you do not leave by this time, you could be forced out of the property by bailiffs.
The long-term impact of having your home repossessed:
Having your home repossessed is in itself, an incredibly difficult time, watching everything you have worked for be taken away from you is heart breaking. What you may not realise now, however, is that this repossession could continue to hinder you for years to come, impacting negatively on your credit rating and making it difficult to secure a mortgage, loan or credit in the future. This is because when your home is repossessed you are placed onto a repossession registry, a registry that future mortgage lenders will check. It is very difficult to secure a mortgage once you are on this registry and if you are lucky enough to secure one, the interest rates are likely to be extortionate. In addition to this, when your home is repossessed and sold, if it does not cover the balance you owe, you could be pestered for the remaining balance for up to twelve years after.
Stop repossession with Sell House Fast:
The good news is, you do not need to let it get this far, if you pay all your debts off before you are served a repossession order your house remains your own. If you cannot afford to pay your debts off, which most people can’t, then you can sell your house, for cash and use the money to pay your debts and mortgage lender. Of course, you will still be left with no home, but you will have a better chance of securing another mortgage when you find yourself more financially support. In selling your home for cash you are saving your credit rating and keeping your name off the repossession register.
When you’re being pestered to pay your outstanding debt and threatened with a repossession order, you don’t have the luxury of time to use a traditional estate agent and wait for a suitable buyer to eventually come along. You need to source the right buyer and sell your home quicker, which is where Sell House Fast becomes your lifeline. We can introduce you to suitable buyers immediately, getting interest in your house from people who are as eager to buy a house quickly as you are to sell. We can reduce the time it takes to sell your home from months or years, to as little as 29 days.
To find out how we can help you, or for a free quote, contact one of our specialists now.