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3 Tips to Stop Repossession Fast in Goole, Hull, Yorkshire & Lincolnshire

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3 Tips to Stop Repossession Fast in Goole, Hull, Yorkshire & Lincolnshire
K&G Lettings Limited Tips to Stop Repossession Fast

The term, Repossession brings up feelings of fear and dread. No one wants to lose their house. You may have already heard the term, or you may fear hearing it soon as you’ve fallen behind on mortgage payments. If you’ve missed a mortgage payment or two, you’ve probably already received contact from your lender. After you miss three or more, they’ll start sending you notices about repossessing your property. Fortunately, there are some things you can do to stop the process. Here are three tips to stop repossession fast.

 

3 Tips to Stop Repossession Fast

These tips to stop repossession fast will save your home and your finances. Try not to stress, repossession happens to a lot of people. These easy tips will make it easy for you to bounce back.

 

Tip 1: Sell Your House in quickly

The first of our three tips to stop repossession fast is to sell your house quickly. Once the lender files a Notice of Default (NoD), if there is an opportunity to buy your property, the lender must consider it. Lenders who repossess a property, will try to recoup their losses by selling the property. If you are able to present your lender with a reasonable offer from a quick sale, they may take it. It would save them the trouble, effort, time and cost it takes to try and find another buyer or schedule an auction.

 

Tip 2: Apply for a Loan Modification

Our second of three tips to stop repossession fast is to apply to modify your loan. When you apply to change your loan, the lender will look at the terms of the loan. If there is a way to redo the loan so that your payments are lower, they may be able to modify the terms of the loan . Sometimes, they may extend the length of the loan to lower your payments. This does increase the length of the loan. They may be able to adjust the interest rates, if the current interest rate is lower. Modifying your loan may stop your repossession if you request it in time.

 

Tip 3: Sell to a Cash House Buyer

Our 3rd and final tip to stop repossession fast is to sell your house to a cash buyer. Investors will offer you a cash price on your property after an informal inspection. If you accept, they will pay you in full for your house, in cash. It’s fast, simple and done. You do not have to worry about making a lot of repairs or renovations to make the house ready for sale. Cash house buyers offer you cash for the house “as-is” meaning they will take it just as they see it, without any repairs. There’s no inspections needed or any other assessments. You don’t have to worry about a sale falling through, or a seller not qualifying for a mortgage with their lender. Another great thing is that the cash buyer helps with all the paperwork. You don’t have to wait months for a completion date that gets moved further back. The entire transaction is completed in just a matter of days. You get to stop the repossession process and relived the extreme stress you are under.

 

Want to Stop Repossession Fast?

At K&G Lettings Limited we specialise in quick house sales. We understand that facing repossession is a scary and stressful time for you. We can take the extreme stress away by buying your house. At K&G Lettings Limited, we specialise in buying houses quickly and without hassle. This removes the emotional and financial hassles form facing a house repossession, ensuring you and your family can face the future without fear.

Do you have a question about the house repossession process? Do you want to get your no obligation cash offer for your house? Want to stop repossession in its tracks? If YES, fill out the form below.

Even if you don’t decide to sell, we’d love to answer any questions you might have. Give us a call today on 01482 961961.

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.