But only if you talk to them. If you are in arrears you are in danger of having your home repossessed
if you do not act quickly.
Normally, lenders will allow you to be two months' payments in arrears before passing your case onto their
legal department. The reality is that most lenders will prefer to reach an agreement with you for repayment of any arrears
rather than take you to court. At this point you still have options to address the situation.
Talk to Your Mortgage Lender
Written correspondence is best - keep copies
If you must deal with them by phone make sure you record all conversations or write down detailed notes and date them
Try to stay calm but do not let your lender bully you
Lender's call centres are NOT staffed by lawyers. Don't believe what they tell you until you prove it to be true!
If you have instructed a solicitor to sell your property, then tell the lender to send all correspondence to them
What Are My Options?
The recent credit crunch has meant that many mortgage lenders are now in serious financial trouble. Some lenders may be so desperate
to get as much cash back as possible that they will resort to all kinds of tactics to bully you into paying even if you cannot afford it.
If that is the case you would be better off asking the court to make a judgement about paying your arrears as is it likely to be a lower
monthly amount.
You Can Stop Repossession Now
By any of the lenders listed below - Act now - Contact Us
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They also provide a Free Home Valuation Report.
