How to Stop Repossession
If you are at risk of repossession, because you have mortgage arrears, you may feel as if there are no alternatives left. But if you know how to stop repossession , you can start to take back control of your financial circumstances.
It is important that, if you haven’t done so already, that you get in touch with your mortgage lender as soon as you start struggling with your finances. Explain to them how your financial circumstances have changed and how you plan to stop repossession by how you can afford to pay your mortgage payments in the future and how you are going to repay the mortgage arrears.
If you think that you cannot make payments to your mortgage, then you might be tempted to hand back your keys to the lender. Always try and sell the home yourself, as mortgage lenders will charge you for the service, and they often get a lower asking price as the property will be left empty.
Advice on How to Stop Repossession
Harrington Brooks have put together a guide which contains more information about how to deal with your arrears, click the following link to access this information: Arrears.
You can also find a wealth of information about how to stop repossession, including:
- Priority Bills Problems – Advice on what to do if you are in the first stages of having problems paying your mortgage or other priority bills. It is essential that you seek advice as soon as possible so you do not risk losing your home.
- Help with Mortgage Payments – Perhaps the reason you have fallen into mortgage arrears is because your personal circumstances have changes. You may be entitled to additional financial help.
- How NOT to Handle Mortgage Arrears – As well as ensuring that you do all the right things when handling your mortgage arrears, there are certain things which you should not do if you are faced with this situation to avoid homelessness.
The right solution of you is dependant on the individual circumstances. If you need free information about how to stop repossession, please get in touch with One Advice .