Trust Lifesaver to ease the financial pressure
Category News
If you're one of the many homeowners who are currently struggling to pay their monthly bond repayments, it may be time to give your trusted property professional a call and let them help you become part of a bank-assisted sale programme.
Introduced during the Global Financial Crisis in 2008, bank assisted programmes enable owners who are in financial straits to sell their properties at market-related prices instead of going into default on their bonds and then having their homes repossessed.
And the Chas Everitt Lifesaver programme means you can even avoid having an embarrassing and stressful conversation with your bank about your worries around being able to pay your bond installments.
All you need to do is give one of our property professionals a call and let them know that you would like to sell your home before you go into default, the interest on the home loan starts mounting up and the bank starts proceedings to get a debt judgment against you and repossess the property.
(See https://www.chaseveritt.
The Chas Everitt agent will then help you to get the home enrolled into a bank-assisted sale programme and obtain a "reverse mandate" from the bank to market the property and sell it in the shortest possible time for the maximum possible price.
The major advantage of taking this step is that your credit record as the homeowner will be protected, and that once the property is sold you will be able to move on with your life without any "black marks".
This is vital if you plan to rent your next home until your financial situation improves, or perhaps even buy again. All reputable landlords and rental agents will require you to have a clean credit record, and you certainly won't be able to get another home loan without one.
By contrast, if you do nothing and end up having your home repossessed and then sold off at a Sale in Execution, your credit record will be severely impaired for several years. In addition, your home may be sold at that sheriff's auction for much less than it is actually worth, leaving you with a shortfall on the home loan that you still have to pay off with interest - even though you now longer own the property.
That is really not a pleasant prospect, so if you are having trouble, don't wait. Contact us today and let us help you save your financial future.
Author: Chas Everitt