Property Solutions to Sell Your House Fast For Market Value
Sell your house fast if you live in Poole could include using a conventional estate agent or an online agent, but you need to create kerb-appeal and a good first impression, whilst choosing the right estate agent and the right month to sell your house. One good option is to reduce the listing price of your house to 90% of market value to make it stand out form all other similar houses.sh
What happens when you get your house repossessed, which is 28-56 days after the court hearing, is your house will be sold by the bank to repay your mortgage. Once the court decides that your home can be repossessed by your mortgage lender you don’t have to pay any more instalments on your mortgage. However, you’ll still be charged interest on the outstanding mortgage until your home is sold to repay what you owe. But beware, your mortgage lender will sell your home at under market value and you may end up with a mortgage shortfall.
After your home is repossessed, you’ll be homeless. You may still have a mortgage shortfall and you’ll have to find somewhere else to live. But can you get your home back after repossession? In theory yes you could get it back. But you’d have to clear the mortgage, the arrears and all the other associated costs of a repossession first. But this is not recommended, you are better to prevent the repossession in the first place.
A missed mortgage payment, which is also known as a delinquency, will typically fall off your credit report after seven years from the original delinquency date. Missed mortgage payments stay on credit reports for six years, but as time passes and the missed payment ages, it will have less impact on your credit score.
If you can’t pay your mortgage this month you will need to inform your mortgage company as soon as possible. But if you’ve already missed a mortgage payment this month you are now ‘in arrears’. If you’ve not already spoken with your mortgage lender, you need to do it as soon as possible. The sooner you engage with your mortgage lender the better. Communicating with your bank is probably the most important first step to help you get you back on track with your mortgage.
The concept of lease options is legal in the UK. In fact the ‘options’ element of the lease option contract have been around since the dawn of property. Options have been used by many developers to secure properties, but mostly in the commercial sector. Whereas now lease options are common in the residential sector too. The basic concept of a lease option contract means that a buyer pays you an upfront amount so they have the right to buy your home in the future, whilst paying you a monthly rent to cover your mortgage.
