More homeowners are desperate for a lifeline as the risk of repossessions continue to rise.
More homeowners are desperate to stop the repossession of their homes as the economic climate claims more victims. The cold front has been icier than expected, with redundancies, repossessions and recession dominating the daily news. It's grim. Our homes are perhaps the most important possession we have. They are not just about monetary value. As the property slump has revealed, we are now valuing our houses as homes, not as investments. Making a house a home takes years, but as the repossession figures show, there will be many heartbroken homeowners and families in the coming months. The need to stop repossession has never been higher.
Don't Lose Your Home - Create Quick Sale can Help
Our homes can be the only emotional and physical sense of stability we have in times of turmoil. If you want to stop the threat of repossession but simply can't afford to hang onto your home, there is a solution with the sell and rent back schemes, many of which offer the option for you to buy back your home at a later date. According to the Council of Mortgage Lenders, the number of homeowners under threat from repossession will rise to 45,000, and could get worse. Sell and rent back schemes offer a lifeline – the chance to sell your property, clear your debt and stay put.
Repossession: Are You at Risk?
You may be in the upsetting position of fighting to stop repossession if you fall into mortgage arrears. Or you may have fallen behind on payments for a secured loan that used your home as collateral. With more of us left in financial dire straits, more of us are at risk of repossession and in need of help. Many people took out high mortgages in the belief that the price of their property would continue to rise. But as the property crash continues, there are some homeowners with a mortgage that's higher than the actual value of the house. Being in negative equity means there is no financial leeway. And if you are one of the many middle class and white collar workers who loses their job in the coming months, you will be vulnerable to house repossession.
It's important that you remain positive. If your home is crucial to your sense of stability, if your kids are in local schools and you have good neighbours, or you simply don't want the upset of moving, a sell and rent back scheme could be a temporary solution to help you ride out the recession.
Repossession Advice from createquicksale.com
With 25 years of experience and knowledge in buying property, Create Quick Sale can help. We are part of a large group that is also involved in secured finance, property development, asset management, private equity and various other investments. If you're looking to stop repossession, createquicksale.com can help, call 020 8457 3200 to find out more, or email your query to: info@createquicksale.com