What happens to you after your home is repossessed
Of course you don't want this to happen, but now that you are actually faced with home repossession, what are your options?
Assuming you have fought long and hard with your mortgage lenders, their solicitors, the court, and still you were ordered to leave your home, what do you do now?
As we have said, you are never without options, at Fast Property Solutions we make it our goal to inform you of the options you have, and to arrange for these options to happen.
You Receive an Order to Leave Your Home.
This automatically happens after court hearing procedures are completed. If you are unable to come up with the payments to pay your mortgage lenders, you have no other option but to leave the property. When you do so, that doesn't mean that everything ends there. There is still some homework to do on your end, lest you run the risk of being haunted by your lenders in the years to come.
Monitor the progress of your repossessed house sale.
Remember that the lenders can still pursue you if the proceeds from the house sale are much less than the amount it was loaned for. Therefore, your primary responsibility here is to ensure that the property fetches the most attractive price available. If you feel that the lenders have been negligent in ensuring this, you may file for an injunction in the court, and the sale can be prevented, or postponed for a better offer.
However, the sale itself can still be prevented if you can get someone to buy your house fast, in cash! We at Fast Property Solutions can arrange for such sale to happen. Contact us on 0800 084 2080 today.
You Get Evicted From Your Home
Assuming you have chosen to ignore the court order to leave your home at the appointed date, it can get really problematic. Your mortgage lender and their solicitors can request for the bailiff to evict you. The bailiffs will inform you of the date of the eviction, and you will be given ample time to prepare for it.
Considering that a lot has already happened at this stage, the bailiff has the prerogative to issue a notice that can be carried out in 7 or 70 days.
You can still delay an eviction by citing special circumstances such as having a baby or an elderly in the household. But bear in mind though, that this will only delay, not cancel the eviction.
If you still refuse to cooperate after several notices and extension, the bailiffs can forcefully remove you from your properties, and do so within legal means. So it is either a question of whether you will exit gracefully with your pride and belongings intact, or they will kick you out the door. It may not be that extreme but suffice it to say that it can get ugly.
Again, the eviction can still be avoided, if you can pay your loans, which you can do by selling your house fast to a cash buyer. We can help arrange for this, if you contact us at 0800 084 2080.
Looking for a new home
Whether you left your home gracefully or you have been evicted, you now face the difficult and painful process of looking for a new home. If you have successfully sold your home, you will still need a place to stay, and surely you are not ready to take on another mortgage, right?
We can help you find a suitable home for you - it can be your old home or it can be another. Learn more about the options you have by calling 0800 084 2080.
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