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Stop Your Home Being Repossessed
If you know that you will have difficulty in making your mortgage payments what are your options?
If your financial problems are short-term consider asking your lender to reduce your monthly payments for a limited time. There are several free debt advice agencies that can help you prepare a debt repayment plan, and work out what you can afford and negotiate on your behalf. Once you have your debt plan write to your lender as soon as possible to negotiate an affordable repayment arrangement.
The way you deal with your lender will influence the judge should you come to court. Even if the lender refuses your offer the fact that you’ve made one is a sign that you want to be helpful.
It’s worth remembering that problems are easier to resolve if they are tackled at an early stage. Most mortgage payment crises don’t end with the owner losing their home because the lender or the court comes to an arrangement with the borrower to pay off the arrears.
If you have received letters threatening court proceedings or a repossession order don’t panic. There still may be time to prevent your home from being repossessed.
Please contact Roger Stone at Chichester or Sarah Evans at Selsey for more information.