Skip to content or view mobile version

Home | Mobile | Editorial | Mission | Privacy | About | Contact | Help | Security | Support

A network of individuals, independent and alternative media activists and organisations, offering grassroots, non-corporate, non-commercial coverage of important social and political issues.

Understand The Options Available When Facing Mortgage Repossession

Hannah Stewart | 27.03.2015 09:50 | Other Press | Birmingham | London

Impede repossession! Mortgage repossession is a huge financial setback and loss of property for any homeowner. Here are ways in which you can stop your home from being repossessed!

A house becomes a home when a family starts living in it. Being a fundamental an
A house becomes a home when a family starts living in it. Being a fundamental an


A house becomes a home when a family starts living in it. Being a fundamental and indispensable need for you and your family, you can’t let it fall into the hands of another. We create lifelong memories with our homes, a lot of stories and incidents are associated inside the four walls where we live. If you miss out on your mortgage bills and are unable to pay off the installments, your house can be repossessed.

Even after so much hard work and determination to keep your home safe, paying off the monthly loan installments and while still managing the needs of the family happy; sudden illness, loss of a job or unexpected expenses make us feel helpless. And we may face the threat of home repossession.

What exactly is mortgage repossession?

Mortgage repossession means that when you buy a house from a lender, that lender has the ability to repossess your house if you do not pay the bills on time. For him to stay on the safer side, he still has financial claims against the house even when you own it so that he gets full payments along with the missed interests.

In these times, it is obvious you and your family would want to know how to successfully save your house from getting repossessed. Here’s how you can be sure about mortgage repossession.

Here are a handful of tips which can help you tackle the threat of mortgage repossession

1 ) Do not panic:

The above-given rights can be adhered to when faced with the mortgage repossession threat. Also, there are solutions to this given below. Panic is not the solution. Be calm and patient and do a lot of research on the options available.

2) Make all your payments:

Make all your payments on time along with the interests so that the situation of losing your house does not arise. Be alert and make sure you have no last minute mortgage payment remaining.

3) Always take expert advice:

It is always helpful to take expert advice when you are in a crisis like this. If not reduce, it will help you solve your problem quicker.

4) Do not dawdle! Act now:

Don’t wait for an eviction notice from the court. You must act immediately before you know the threat of mortgage repossession will cripple you. It also affects lender, so it is not good from his perspective too. You cannot afford to let your name appear in the repossession registry of UK or your credit record. This debars you from indulging in any financial deals with any probable creditor in the future.

5) Talk to your lender:

It is advisable to talk to your lender before it gets too late, for suspension of some of the payment or to extend the date of your payments. You need to face him because he will be the best to direct you what to do. He can suspend your payments for a while or you can ask him to lower the cost during the period of the mortgage term. But this results in paying more interest in the end.


6) Extend your payment term:

You can pay your mortgage for a long time to make your payments affordable and according to your convenience. But this may cost more time and energy.


7) Take the interest-only mortgage:

Here, you can stop paying for some time and pay the total sum in the end. This can be a solution for a while when you do not have enough money to pay.

Your home is a place where you create memories and every important event in your life is associated with it. Hence, you would not want to lose it at any cost! These tips will help you deal with stressful situations like mortgage arrears and repossession.

Hannah Stewart
- Homepage: www.Stoppingrepossession.Com

Upcoming Coverage
View and post events
Upcoming Events UK
24th October, London: 2015 London Anarchist Bookfair
2nd - 8th November: Wrexham, Wales, UK & Everywhere: Week of Action Against the North Wales Prison & the Prison Industrial Complex. Cymraeg: Wythnos o Weithredu yn Erbyn Carchar Gogledd Cymru

Ongoing UK
Every Tuesday 6pm-8pm, Yorkshire: Demo/vigil at NSA/NRO Menwith Hill US Spy Base More info: CAAB.

Every Tuesday, UK & worldwide: Counter Terror Tuesdays. Call the US Embassy nearest to you to protest Obama's Terror Tuesdays. More info here

Every day, London: Vigil for Julian Assange outside Ecuadorian Embassy

Parliament Sq Protest: see topic page
Ongoing Global
Rossport, Ireland: see topic page
Israel-Palestine: Israel Indymedia | Palestine Indymedia
Oaxaca: Chiapas Indymedia
Regions
All Regions
Birmingham
Cambridge
Liverpool
London
Oxford
Sheffield
South Coast
Wales
World
Other Local IMCs
Bristol/South West
Nottingham
Scotland
Social Media
You can follow @ukindymedia on indy.im and Twitter. We are working on a Twitter policy. We do not use Facebook, and advise you not to either.
Support Us
We need help paying the bills for hosting this site, please consider supporting us financially.
Other Media Projects
Schnews
Dissident Island Radio
Corporate Watch
Media Lens
VisionOnTV
Earth First! Action Update
Earth First! Action Reports
Topics
All Topics
Afghanistan
Analysis
Animal Liberation
Anti-Nuclear
Anti-militarism
Anti-racism
Bio-technology
Climate Chaos
Culture
Ecology
Education
Energy Crisis
Fracking
Free Spaces
Gender
Globalisation
Health
History
Indymedia
Iraq
Migration
Ocean Defence
Other Press
Palestine
Policing
Public sector cuts
Repression
Social Struggles
Technology
Terror War
Workers' Movements
Zapatista
Major Reports
NATO 2014
G8 2013
Workfare
2011 Census Resistance
Occupy Everywhere
August Riots
Dale Farm
J30 Strike
Flotilla to Gaza
Mayday 2010
Tar Sands
G20 London Summit
University Occupations for Gaza
Guantanamo
Indymedia Server Seizure
COP15 Climate Summit 2009
Carmel Agrexco
G8 Japan 2008
SHAC
Stop Sequani
Stop RWB
Climate Camp 2008
Oaxaca Uprising
Rossport Solidarity
Smash EDO
SOCPA
Past Major Reports
Encrypted Page
You are viewing this page using an encrypted connection. If you bookmark this page or send its address in an email you might want to use the un-encrypted address of this page.
If you recieved a warning about an untrusted root certificate please install the CAcert root certificate, for more information see the security page.

Global IMC Network


www.indymedia.org

Projects
print
radio
satellite tv
video

Africa

Europe
antwerpen
armenia
athens
austria
barcelona
belarus
belgium
belgrade
brussels
bulgaria
calabria
croatia
cyprus
emilia-romagna
estrecho / madiaq
galiza
germany
grenoble
hungary
ireland
istanbul
italy
la plana
liege
liguria
lille
linksunten
lombardia
madrid
malta
marseille
nantes
napoli
netherlands
northern england
nottingham imc
paris/île-de-france
patras
piemonte
poland
portugal
roma
romania
russia
sardegna
scotland
sverige
switzerland
torun
toscana
ukraine
united kingdom
valencia

Latin America
argentina
bolivia
chiapas
chile
chile sur
cmi brasil
cmi sucre
colombia
ecuador
mexico
peru
puerto rico
qollasuyu
rosario
santiago
tijuana
uruguay
valparaiso
venezuela

Oceania
aotearoa
brisbane
burma
darwin
jakarta
manila
melbourne
perth
qc
sydney

South Asia
india


United States
arizona
arkansas
asheville
atlanta
Austin
binghamton
boston
buffalo
chicago
cleveland
colorado
columbus
dc
hawaii
houston
hudson mohawk
kansas city
la
madison
maine
miami
michigan
milwaukee
minneapolis/st. paul
new hampshire
new jersey
new mexico
new orleans
north carolina
north texas
nyc
oklahoma
philadelphia
pittsburgh
portland
richmond
rochester
rogue valley
saint louis
san diego
san francisco
san francisco bay area
santa barbara
santa cruz, ca
sarasota
seattle
tampa bay
united states
urbana-champaign
vermont
western mass
worcester

West Asia
Armenia
Beirut
Israel
Palestine

Topics
biotech

Process
fbi/legal updates
mailing lists
process & imc docs
tech