Want to stop repossession? Sell your house for cash to MPG!

Are you facing the threat of property repossession? It is not the end of the world. Understanding repossession is the first step towards successfully dealing with – if not avoiding – this unfortunate eventuality.

Read on to learn more about the technicalities of the process as well as a workable solution for stopping home repossession in its tracks. You’ll be pleasantly surprised at just how fast and effective a cash house sale with MPG Investments can be!

How does home repossession come about?

Essentially, home repossession is the result of mortgage arrears or spiralling consumer debt. If a homeowner fails to meet the financial requirements of his or her home loan agreement, their home will eventually be repossessed by their mortgage lender. The lender, usually a bank, reclaims and sells the property in order to address the debt. Repossession, regarded as the last resort by courts and lenders alike, does not happen overnight. There are several warning signs to look out for:

The lender issues an official letter of notification as soon as payment failure – or even delay – is detected on the part of the homeowner. This gives people the opportunity to settle their arrears, or alternatively, to discuss their financial predicament with their mortgage lender. If the letter is met with no response, a second is issued after a certain period of time.

The lender’s attorneys are contacted if the homeowner still does not reply, and the legal process is set in motion. After granting homeowners a grace period of up to two weeks – during which they are free to settle their arrears with no strings attached – the attorneys usually schedule court proceedings.

Any homeowner who’s home loan payments are 6 or more months in arrears, risks prosecution on the grounds of breach of contract. Lenders can then request permission to reclaim the concerned property, and if the judge agrees, arrangements are made for bailiffs to repossess the home – sometimes as soon as two weeks after the ruling!

The repossessed property is sold as soon as possible, in order for the lender to recover lost funds. Homeowners should be aware, however, that their debt will not necessarily be settled after repossession, as the lender might be unable to recover the entire sum. The homeowner could remain liable for legal, admin and bailiff expenses as well as mortgage interest on their former home.

If you identify with the scenario sketched above, chances are that stress and anxiety are taking their toll. Do not despair, however, and don’t make any rash decisions! Even at this late stage you can still sell your property to settle your mounting debt.

Stop property repossession with MPG Investments

Our wealth of industry experience and extensive financial resources have helped establish MPG Investments as one of the most celebrated cash property buyers in the UK. Read on to learn how a fast home sale with MPG can stop repossession faster and more effectively than its alternatives.

Are you facing repossession and looking for ways to address mounting debt? Here is why you should not sell your home through an estate agent or put it up for auction. Selling through an estate agent could take up to a year, and also carries serious chain-breaking risks. Auctions, on the other hand, could have you lose up to 75% of your home equity! These are clearly not viable options, as time and money are the biggest concerns for anyone facing repossession.

Thanks to MPG Investments, you don’t have to lose hope – it is never too late to sell your home and stop property repossession in its tracks. We are primed to buy your home in just 7 days! This means that you can access your bond equity almost immediately and proceed to settle your debt.

Best of all, you do not even have to leave your property. With Sell and Rent Back, one of MPG’s many innovative property solutions, you can sell your home for cash and then rent it back for as long as it takes for you to regain control of your finances.

Do not stand for uncertainty and stress. Protect your credit reputation so that you can re-enter the property market at a later stage; opt for a fast cash sale with MPG Investments and wave your repossession worries goodbye. Contact MPG Investments today!