It has been reported that as many as 3.5-million UK households are unable to move home because either there is not enough equity in their properties, or they simply can’t get a new mortgage. So they’re stuck. They lucky ones don’t have to sell. The unlucky ones don’t want to move at all, but because they have accumulated huge debts, they have to.
So what do you do if you can’t sell but have to?
First of all you should never allow the situation to deteriorate to a point that you will be evicted and your home is repossessed. If you are evicted you will be homeless and your credit record will be shot. You won’t be able to buy another home any time soon.
If you find yourself in a financial pickle, unable to pay your monthly repayments, go and talk to your mortgage lender or bank, rather sooner than later. Ask for their suggestions in terms of what you can do. Some will renegotiate the loan or even allow a mortgage “holiday”. If they can’t help you, don’t give up. Don’t assume that because you are behind with your payments you simply have to sit back and let them repossess your home.
Unfortunately for many homeowners, this current credit crunch has lead to financial disaster. If you are one of these people, just remember that you’re not alone. Lots of other people are in a similar situation, which is why companies like Beese Properties have established a sell house quick scheme that can save families from eviction. They will also give you sound advice and may be able to help you delay the repossession process, if it is imminent.
The Beese Properties’ sell house quick scheme offers a buy back option that gives you the opportunity to buy your house back in the future. If you are facing repossession or eviction, this can be stopped within days.
So you will see that you stand a good chance to save yourself from being repossessed.
You are probably aware that there are some harsh critics of the sell house quick concept. But if you’re at the end of the road in terms of not being able to meet your monthly mortgage obligations, and can’t sell your property quickly enough to save the situation, you will probably also realise that these critics can’t help you. So why bother with their criticism? Sadly, they want your business but they can’t have it, because you, quite simply, can’t afford to pay.
It is true that a sell house quick scheme will mean selling your property below market value. But if you do business with a reputable dealer, like Beese Properties, then you will be able to set a buy-back figure that will also be below market value. Also, there is usually sufficient money left over once mortgages have been settled, for sellers to be able to settle all their debts and start afresh.
Sell house quick schemes don’t work if there is more owing on the property than what it is currently worth. Since property prices have fallen quite sharply, this can happen.
Tens of thousands of British homeowners have lost their homes due to the current credit crunch. Don’t join them until you have investigated all the options, including the option of selling your house quick to a homebuyer specialised in buying properties quickly.