How To Talk To Your Lender When Facing Repossession

Your Lender Can Stop the Process When Facing Repossession

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, When Facing Repossession 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 When Facing Repossession

  • 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
  • When Facing Repossession 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 When Facing Repossession until you prove it to be true!
  • If you have instructed a solicitor to sell your property When Facing Repossession, 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 When Facing Repossessionyou 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 – Click Here

How to fill in Form N244