Thousands of people face home repossession every year. There could be a variety of reasons for this – failing to meet mortgage arrears, divorcing or separating, constrained by secured or unsecured debt. Through increasing house prices, rising inflation and loss of jobs many home owners throughout the UK are facing eviction and having their homes repossessed. Imagine the fact that you have put all your hard earned cash in to your home and built up a residence you can be proud of just to have your home repossessed and taken away.

The first step towards repossession is the sending of a letter from your mortgage company informing you that you are behind in your payments, and asking you to contact them to explain what you intend to do to remedy the situation.

If you don’t respond within a reasonable time-frame, you’ll be sent another letter underlining the seriousness of the situation and warning of possible legal proceedings if you don’t make contact.

If you ignore this, a solicitor’s letter will be sent giving you 7 days to contact the lender and make an acceptable proposal, or court proceedings will begin without any further notice.

Once it gets to court it’s important to bear in mind that the judge has the power to immediately grant a repossession order if he considers the situation to warrant it. It’s more likely, however, that the judge wll attempt to broker an agreement between the debtor and the creditor which will avoid the need for repossession. This is especially true if children are living in the property in question.

Whatever the judge’s unwillingness to grant a repossession request lightly, if all else fails it will certainly come to this. There will, however usually be one last chance to avoid losing your home as not all orders are acted on immediately, rather being held in reserve by the lender to ensure future payments are made and arrears cleared in some way, even if this takes a long time.

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