Archive for the ‘Mortgage Repossession’ Category

What’s the Best Way to Stop Repossession?

Monday, August 30th, 2010

Your home is not just a construction with brick and mortar – it is the place where you have spent memorable moments of your life. Nobody wants to see it being repossessed. People try hard to stop repossession. But situations are not favourable always.

If you have already missed couple of mortgage instalments, the creditor has started calling you day and night and you are panicked then this is the right time to figure out a way to stop home repossession. Remember time is the key; sooner you think of a solution the better. Once the due amount grows bigger and bank starts the repossession proceedings it can be difficult to save your home.

You should act before the situation goes out of your hand. You can talk to your bank to know your options. Sometimes banks come up with customized solutions to help the borrowers. If a person agrees to become regular with the mortgage payments in future, bank may waive the dues and financial charges. But, you have to pay the amount in full today or tomorrow.

There is another alternative to stop house repossession. You can sell of your home fast and use the money to repay your debt. If you sell the property at higher price than what you owe to your bank then you can make some profit and use the residue money for any other purpose.

The idea of selling off your home may sound good but you will find it really tough to get a genuine buyer; especially when you have little time in your hand. The best solution is to contact a cash property buyer. A property buyer will purchase your property no matter in which condition it is and in which stage of repossession it is. They will complete the deal really fast, typically within 7 days or something, so that you can avoid repossession.

Mortgage Repossession Help for Troubled Homeowners

Friday, August 27th, 2010

Secured loan is easy to get; but if you fail to repay it on time you may lose the associated property – be it home or car. If you have missed few mortgage payments and your lender has already started to call you, do not delay any more. You need mortgage repossession help right now – talk to the experts, look for alternatives and try to arrange the money before the lender goes to the court and get a repossession order issued.

Do not wait for the court order, act as soon as you anticipate the threat of home repossession. Once the process begins your name will be enlisted in the repossession registry of the country; house repossession is not a good thing from lender’s perspective. Once this enters into your credit report, no prospective creditor will like to do financial deals with you in future. Always try to stop repossession and keep your credit history clean.

Here are some tips on how to avoid mortgage repossession:

Pay the Arrears:

If you have missed 2 or 3 instalments, make suitable arrangements to pay it off in full. If you clear all the dues your creditor may mark the mortgage as active or regular once again.

Agree to Pay Regularly in Future:

Talk to your creditor and let them know that you will be paying the instalments on time; demonstrate that you missed few instalments because of some unavoidable reasons. The lender may waive the dues to help you pay off the loan in full.

Sell Home Fast – Pay off the Mortgage:

If nothing works out, just sell home fast and stop house repossession. A property buyer will purchase your house fast in order to help you avoid repossession. Look for a cash buyer in your city; they usually buy property of any type and any condition. Get quick cash for your home and avoid home repossession.

Lebanon Properties Hot Despite Global Financial Crisis

Saturday, October 31st, 2009

The Global Financial Crisis may have devastated real estate prices in Dubai, causing a 48% fall just this last year, as well as causing serious drops in other countries, but one place that is seeing increased prices is Lebanon.

Lebanon

Lebanon

The head of the Order of Engineers in Lebanon has predicted a growth in the real estate sector of 10% to 15% per year until 2013. The reason for this is the influx of Lebanese expats and other Arab investors seeking a piece of Lebanese real estate. Many of these expatriate Lebanese had spent years in other Gulf states, Dubai especially, but many have now moved from the UAE to Qatar and Saudi Arabia, where job prospects are now better, or back to their home country to purchase a property there.

In 2008, transactions accounted for $4.3 billion dollars in Lebanon property, with most of the action taking place on small- to medium-sized properties in Beirut or Mount Lebanon. However, real estate brokers are not too surprised by the effect of this expat activity given the small size of the country compared to the population. If land and property is at a premium, prices can be significantly affected by a relatively small shift in the population either way, or just by the actions of speculative investors.

Property prices per square metre in Beirut are twice the national average, at $1,600, and most sales take place on properties between 150 and 300 square meters. It is also projected that the market will be given a further boost by recent incentives given to commercial banks by the Lebanese Central Bank to offer house loans at very competitive rates.