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  1. 03-30-2010, 08:15 AM #1
    repossessionstop
    repossessionstop is offline White Belt
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    Smile How to avoid loosing my house because of repossession?

    In order to stop the repossession, you may need to sell your house quickly to raise the cash necessary to repay your lender before the repossession has taken place. Realistically you cannot go to estate agents as it would take way too long and too late to stop the repossession.

    You need a very reliable cash buyer who can buy your house extremely quickly. A good cash buyer would be in position to buy your house without any delays as he or she would have all the finances ready before contacting you. He or she would buy your house most likely for investment and would therefore not be a in chain. This is very important: you don't want to be waiting because of somebody else in the chain while you are trying to avoid repossession.

    How to avoid repossession
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  2. 03-30-2010, 09:45 AM #2
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    Magic69
    Magic69 is offline Green Belt  
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    Wait a minute... you said "how to avoid losing my house", not "how to sell my house fast". You are still losing your house, and selling it fast to a cash buyer only happens when the cash buyer gets a FANTASTIC deal (usually when you sell for whatever you owe, which is far below market value).

    So do you actually have information on how to not lose a home that is facing foreclosure? I mean being able to keep it and continue living in it. There are tons of ways to sell a house and yes, Realtors can help a person sell in a hurry as well.
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  3. 03-16-2011, 05:47 AM #3
    credit-one
    credit-one is offline Gold Belt
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    More details about your circumstances would help us to give clearer advice.

    I would suggest talking to your lender. Lenders are much more leniant about repossessing now and see it as a last resort. Many lenders will consider switching your mortgage to interest-only or even reducing your payment until you get basck on your feet. Let's face it though, the only way to avoid being repossessed in the long run is to catchup on your missed or late payments.
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